Swedish ingredient group Bayn Europe has announced it has completed its acquisition of Tweek, a reduced-sugar candy manufacturer, for 45 million SEK (€4.23 million).
Founded in 2016, Tweek is said to have become the market-leading company and brand in Sweden for sugar-reduced sweets, with a total market share of about 30%. Tweek is claimed to be one of the pioneers of fibre-based sweets, where sugar is replaced with fibre instead of maltitol,
Bayn Europe said the acquisition was in line with its strategy to “actively identify, evaluate and acquire interesting food-tech companies”.
Simon Petrén, VP and M&A manager of Bayn Europe, said: “The acquisition of Tweek has a perfect strategic fit for Bayn, where we now become a leading player for sugar-reduced candy products in Europe. With our strengthened market position and combined efforts, we will have a strong position in the functional-food part of the candy shelf and continue to lead the development forward”.
Sources: Bayn Europe / Food Navigator
