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Euricom, a world leader in the rice sector, has announced a binding agreement to acquire the entire share capital of Sonko, a Polish snacks company, from Oshee Polska.
Founded in 1989, Sonko has a portfolio that includes rice cakes, chickpea chips and chocolate crispbreads, as well as a range of rices and groats. It has a workforce of 300 and two production facilities.
Euricom said it intended to further invest in Sonko facilities and branding to enhance the product range, with the aim of becoming a leading player in the healthy snacks sector in Europe.
Commenting on the acquisition, Euricom president Bruno Sempio said: “We welcome the Sonko team and are eager to support this endeavor through our group structure. This acquisition will help us to achieve, in the short term, a consolidated turnover of approximately 1 billion euros”.
Oshee president Dariusz Gałęzewski added: “In the five years that Sonko has been part of the OSHEE Group, we have achieved most of our goals. OSHEE is now focusing on its core business in the beverage sector and is planning a acquisition in Western Europe to strengthen its position and drive expansion there”.
Terms of the transaction were not disclosed.
Source: Euricom / Just Food
