Organic Food Producer Wessanen Accepts Takeover Offer
Dutch organic food and healthy snacking producer Wessanen has accepted a takeover offer from a consortium comprised of the firm's largest shareholder, Charles Jobson and private equity firm PAI Partners.
The takeover offer values Wessanen, which produces Mrs Crimble cakes, Whole Earth peanut butter and Kallø pop crisps, at €885 million.
In a statement, the group said that the acquisition will enable it to 'continue to invest in initiatives in order to maintain its position as a leader in sustainable food', and grow its healthy and sustainable food brands.
"Our vision is to build a European leader in organic and sustainable food," commented Christophe Barnouin, CEO of Wessanen.
"We want to remain at the forefront of making food healthier and more sustainable for the benefit of both consumers and the planet. This requires a long-term commitment from shareholders and long-term investments. It is all the more critical in an era where organic, sustainable and healthy themes have grown increasingly popular, which in turn has resulted in a more competitive landscape."
Barnouin said that the takeover consortium is "fully supportive" of the group's strategy, and will bring a "longer-term horizon" to the business.
Gaëlle d'Engremont, partner at PAI Partners, added that the group intends to use its experience in the food and consumer space to "increase the reach of the company".
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.