Swiss food company Hero Group has announced that investment firm S-Ventures has acquired its UK-based, gluten-free business, Juvela.
The transaction includes the Juvela bakery in Pontypool, Wales.
S-Ventures is a UK-based company that invests in and develops brands across natural, wellness and food-tech categories.
'An Ideal Home' For Juvela
Hero Group CEO, Rob Versloot commented, “We are very pleased to have found an ideal home where Juvela can grow to its full potential alongside other similar companies.
"The divestment is part of our company's long-term strategy and supports the Hero group's focus on its core categories of baby and toddler food and snacks, healthy snacks, and natural spreads to provide consumers with goodness of nature products."
Alantra and law firm Pinsent Masons supported Hero Group in the transaction, while S-Ventures plc was represented by law firm Farrer & Co.
Scott Livingston, the founder and CEO of S-Ventures said, "We are delighted to partner with the Hero Group and to add the Juvela business to our platform.
"We are excited about the opportunity this acquisition brings to drive substantial growth and value for all our shareholders.”
Founded in 1886 in Lenzburg, Switzerland, Hero Group focuses on branded nutritional food products.
The group's motto is to offer an assortment that conserve the naturalness of products.
It boasts a global footprint, and its portfolio comprises many international and local brands.
In 2021, the company generated revenues of CHF 1.14 billion (€1.2 billion).
© 2022 European Supermarket Magazine – your source for the latest A-brand news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.