Leading European snacking producer Colussi has announced it has reached a deal to acquire a majority stake in German cracker firm Dr. Karg, according to a report in Distribuzione Moderna.
Dr. Karg manufactures a range of crispbread and other sweet and savoury snacking products, employing 240 staff at the company’s bakery in Schwabach. It exports its 36-strong product range to 25 countries.
Colussi, which has annual revenues of around €409 million (€439 million), is a diversified food company that makes chocolate, pasta, and a range of bakery products.
The new deal aims at strengthening Colussi’s footprint in healthy snacks, where it is already present with the Misura brand.
Commenting on the deal, Colussi CEO Giacomo Colussi said it would allow the company to access German retail channels with both the Dr. Karg and Misura brands.
The value of the transaction was not disclosed.
Source: Distribuzione Moderna / Dr. Karg