Sonae Food4Future, a subsidiary of Portuguese retail and telecoms conglomerate Sonae, has announced the acquisition of 95.4% of share capital and voting right in Claybell, owner of Gosh Food brand for £64 million.
UK-based Gosh Food is a manufacturer of plant-based free-from products such as burgers, sausages, and bites trading under the Gosh! brand, as well as private label producer for retailers and foodservice channels. The company recorded a normalised turnover of £22 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 expand its international footprint.
According to Sonae’s press release, 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.