Multinational food group Wessanen is set to acquire Biogran, described as the leading manufacturer and distributor of organic brands in Spain, from private-equity firm Nazca Capital for $67 million.
The acquisition will aid Wessanen in expanding its reach and solidifying its hold over the organic food market around Europe, the firm said.
Biogran produces food and dietary supplements under such brands as El Granero – the leading organic brand in Spain – and Ecocesta. It is predominantly active in ambient natural & organic foods such as cereals and rice cakes. In 2016, the firm’s net revenue is expected to grow to €32 million ($35 million).
Netherland-based Wessanen deals in the manufacture of organic and natural foods under the Bjorg, Allos and Kallo brands to name a few.
Commenting on the acquisition, Wessanen CEO Christophe Barnouin said: “The acquisition of Biogran broadens our geographic footprint and is a further step in the execution of our strategy and vision of becoming the leader of organic and sustainable food in Europe. […] The acquisition of Biogran represents a major growth opportunity for Wessanen to develop our business in the country”.