Wessanen to acquire Abafoods for €52m
Abafoods makes the Isola Bio brand of organic drinks, specialising in dairy alternative drinks from almonds, coconut and cereals, including rice, oat, spelt and soy. It also makes non-soy cereal drinks for the Bjorg and Bonneterre brands, among others. In 2013, the company’s net revenue was €27m, and it says this is expected to rise to €39m in 2014.
"Abafoods’ unique expertise in dairy alternatives will strengthen our R&D and production capabilities to fuel the growth of our brands in Europe, as well as Isola Bio, in this core category,” said Wessanen CEO Christophe Barnouin in a statement.
President of Abafoods Almut Steinhuisen added: "At Abafoods, we have a rich and successful history in developing organic plant-based drinks based on almond, rice, soy and various cereals. Our brands, products and philosophy are complementary to these of Wessanen.”
Abafoods has a factory in Badia Polesine and about 400 hectares of organic farmland on which it grows some of its raw materials.
The deal is expected to be finalised in January, Wessanen said.
