Ebro Foods, the Spanish food company, has announced it has received a binding offer from Midsona, a Swedish leader in organic and health foods and self-care ,for the acquisition of the entire share capital of Alimentation Sante for €57.5 million ($64 million).
“Ebro has analyzed the strong investment needed to reach a relevant position in the Bio food business.”, the firm said in a statement “In this scenario, and considering the major interest shown by different world players, Ebro has decided to negotiate with Midsona AB the sale of Ebro’s Bio business”.
Alimentation Sante and its subsidiaries posted €35 million ($39 million) in net sales in 2018. The business unit includes Celnat, a producer of flour, grains, breakfast cereals, pasta, rice crackers, dried fruit and supplements that Ebro Foods acquired in 2016, and Vegetalia, a fresh and dry organic food, organic drinks and diet food firm, including the Satoki brand, it purchased a year later.
“This disinvestment would allow Ebro to continue to concentrate its resources in promoting its premium, fresh and convenience business, in which Ebro is a worldwide leader”, Ebro Foods added.
Source: Ebro Foods