GREECE: Vivartia in US bakery move with Nonni's buy
Vivartia, Greece's largest food group, is set to enter the US bakery and confectionery sectors with the acquisition of snack firm Nonni's Food Co.
Vivartia has agreed to buy Nonni's from the US firm's private equity owners Wind Point Partners for US$320m.
Chairman Dennis Malamatinas said Nonni's "brand leadership" and contacts with key US retailers had attracted Vivartia and its owner, Greece-based private equity fund Marfin Investment Group.
"Nonni's has great brands with attractive, high-end products found from Safeway to Starbucks, and we believe it is a perfect fit for Vivartia as we expand into the North American market," Malamatinas said.
Oklahoma-based Nonni's makes a range of baked goods sold its namesake brand, as well as the New York Style and Old London labels.
The deal is expected to go through on 1 April.
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