Orkla Acquires Dutch Bakery Ingredient Firm
Orkla Food Ingredients has acquired the Dutch bakery ingredient firm Vamo produkten voor de Bakkerij B.V. (Vamo), for an undisclosed fee.
The Norwegian food conglomerate made the purchase through its Sonneveld Group subsidiary.
Vamo manufactures ingredient mixes and concentrates for manufacturers of artisan bakery products, and holds a leading position in the Benelux countries for its corn-based products, Orkla said in a statement. The company was established in 1963, and currently employs 20 people at its Duiven headquarters in the Netherlands.
'A Good Fit'
“Vamo is a well-run company with a good customer base and a product portfolio that is a good fit with Sonneveld. The acquisition of Vamo will complement Sonneveld’s position as a supplier of ingredients and accessories to the bakery market,” said Peter Verhagen, CEO of Sonneveld.
As well as Sonneveld, Orkla Food Ingredients also operates the subsidiaries NIC and Broer and Laan, through which it has built up a reputation as a leading supplier of bakery ingredients.
Sonneveld posted a turnover of around €12.4 million last year, and EBIT of €1.6 million. The business, which is owned by two private shareholders, who also own a 20% stake in Quattro Enzymes Solutions, in which Sonneveld owns a 60% interest.
Orkla has been busy on the acquisition front in recent weeks, investing in Icelandic chocolate manufacturer Nói-Siríus HF in August as well as British fudge and toffee manufacturer Confection by Design in July.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.