Bel Buys Controlling Share In MOM Group
LBO France and the Bel Group, are in advanced phases of talks, which will see the latter acquire a majority holding in the MOM Group.
This deal, the companies believe, will enable them 'to fashion together a major global player in the healthy snacks segment, founded on strong and innovative brands, and very highly complementary product ranges and territories.'
'The MOM Group, majority owned by LBO France since 2010, has achieved unequalled business growth in France and the United States,' the Bel Group said in a company press release.
'While building on its historical Materne and Mont Blanc brands sold in France, the MOM Group created the fruit squeezers category and developed strong leadership positions with its Pom’Potes and GoGosqueeZ brands in both France and the United States. Over the past five years, MOM has doubled in size, achieving sales of €362 million in 2015.
'The company employs 1,300 people and owns four production sites, including two in France and two in the United States. It aims to use its industrial knowhow and capacity for innovation to gain international leadership positions through its brands.'
The completion of the transaction is subject to the labour-representation arms of both companies.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.