Dutch food business Wessanen, the owner of brands such as Kallo, Whole Earth, Bjorg and Mrs Crimble’s, has announced it has been acquired by a consortium comprising the private equity firm PAI Partners and Charles Jobson (Wessanen’s largest shareholder) for a total consideration of around €885 million ($996 million).
The acquisition will enable Wessanen to continue to invest in initiatives in order to maintain its position as a leader in sustainable foods, the company said in a statement.
Meanwhile the consortium said it shared Wessanen’s aim of upgrading its operations to improve efficiency across the entire value chain, as well as to add scale in core categories and markets through acquisitions.
Commenting on the deal, Wessanen CEO Christophe Barnouin said: “Our vision is to build a European leader in organic and sustainable food. We want to remain at the forefront of making food healthier and more sustainable for the benefit of both consumers and the planet. This requires a long-term commitment from shareholders and long-term investments. It is all the more critical in an era where organic, sustainable and healthy themes have grown increasingly popular, which in turn has resulted in a more competitive landscape. PAI and Charles Jobson are fully supportive of our strategy and will bring a longer-term horizon and additional investments supporting the execution of our plans”.