Leading Finnish food firm Valio has announced it has entered into an agreement to acquire Gold&Green, known for the Pulled Oats plant protein brand, from food and drinks firm Paulig for an undisclosed sum.
The agreement includes all the rights to the Gold&Green brand, intellectual property, and research and development, but does not include other Gold&Green Foods operations or the Gold&Green Foods production site in Jarvenpaa, Paulig said in a statement.
Commenting on the deal, Tuomas Salusjarvi, executive vice president, Growth Businesses and R&D at Valio, said: “Gold&Green has been a pioneer in the field of plant-based food and new product development, and Valio has successfully developed its Oddlygood plant-based product portfolio. Now, the Gold&Green R&D team joins us in reaching our strategic goal – to further strengthen our position in the growing global plant protein market”.
Paulig added that it was initiating a plan to phase out the rest of the Gold&Green Foods operations which are excluded from the transaction.
Source: Valio / Paulig