Retail and telecoms conglomerate Sonae has announced the acquisition of 95.4% of the share capital and voting rights in Claybell, owner of the Gosh Food plant-based foods brand, via its Food4Future subsidiary for £64 million ($85 million).
UK-based Gosh Food is a manufacturer of free-from products such as burgers, sausages, and bites trading under the Gosh! brand, as well as a private label producer for retailers and foodservice channels. The company recorded a normalised turnover of £22 million ($29 million) for the fiscal year ending in May 2021.
The acquisition follows Sonae’s strategy of investing in innovative companies in growth plant-based sectors around its core business and expanding its international footprint, the company said
Gosh! will continue to be managed by the current team, who will hold 4.6% minority stake in the capital of the company’s share capital, Sonae added in a statement.