ICELAND/FRANCE: Bakkavör buys 4G
The Iceland-based food company Bakkavör Group has strengthened its Continental European operations with the acquisition of the French prepared salads producer 4G.
Bakkavör said its aim was to integrate the business with its existing fresh prepared salads business in France Cinquieme Saison, adding that the acquisition would strengthen the group's relationships with French retailers, increase production capacity and offer synergies.
Financial details of the deal were not disclosed but Bakkavör said it would be financing the deal from its own cash resources
"4G has a good strategic fit with our existing businesses and will strengthen our position in the French prepared salads market in line with our long-term strategy," said Bakkavör CEO Ágúst Gudmundsson.
Based near Lyon, 4G primarily supplies the private label segment in France but also markets the Vert Desire brand.
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