Wessanen Closes Acquisition of Abafoods
12 Jan 2015 --- Wessanen has closed the previously announced acquisition of Italian Abafoods. Abafoods is a European expert in organic vegetal drinks, generating net revenue of around €39 million in 2014. It produces a range of cereal drinks using rice, coconut, almond, oat, spelt and soy.
The company has strong R&D capabilities delivering new concepts and innovative packaging. Its Isola Bio brand is the leading brand in vegetal drinks in Italian health food stores and is also exported successfully to a wide range of export countries.
For Wessanen, the acquisition of Abafoods is a major step in the execution of its strategy. Its unique expertise in dairy alternatives will strengthen our R&D and production capabilities to fuel the growth of our brands in Europe, as well as Isola Bio, in this core category. It also gives Wessanen critical mass in Italy - a large and growing organic market in Europe - with a leading brand position thanks to Isola Bio.
Wessanen also announced that the sale of its French wholesale activities Bio-Distrifrais has been completed.
