NETHERLANDS: Wessanen sells snacks unit Izico to PE firm Egeria
Royal Wessanen has announced it is divesting of its Izico business
Dutch food group Wessanen has announced the sale of Benelux snacks unit Izico to local private-equity firm Egeria in a deal worth EUR68m (US$93.9m).
Pending competition approval, from Egeria will acquire all Izico's subsidiaries. Izico has three production locations: one for spring rolls in Katwijk, another for bread snacks in Deurne and a third for meat snacks in the Belgian town of Bocholt.
In 2013 Izico realised revenues of EUR103.3 million, EBITDA of EUR9m and an operating result (EBIT) of EUR6.2 million with on average 389 employees.
Wessanen said the divestment was in line with its strategy of further building its own brands such as Bjorg, Allos, Alter Eco, Bonneterre, Clipper and Zonnatura in the healthy and sustainable food market in Europe.
At the end of February, the firm sold its organic wholesale business Natudis Kroon and Hagor to Dutch wholesaler Vroegop Ruhe & Co.
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