Finnish food and beverage company Paulig has acquired Dutch brand Conimex from Unilever to strengthen its Asian food business in the Netherlands.
The financial terms of the deal have not been disclosed.
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Conimex is known for its range of Asian meal makers, prawn crackers, soups, sauces, and seasonings.
The deal includes the transfer of the Conimex brand and associated business, including trademarks and intellectual property.
Following the closure of the deal, Conimex’s range of Asian cuisine products will be integrated into Paulig’s World Foods portfolio.
Paulig expects the acquisition to “scale” its sourcing and supply chain operations while broadening its product offerings.
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By GlobalDataMeanwhile, Unilever is looking to offload assets to sharpen its focus on areas it believes offer better prospects for growth.
Last month, Unilever CEO Hein Schumacher said he is seeking to offload £1bn ($1.2bn) worth of brands.
Paulig CEO Rolf Ladau said: “We aim to shape a popular food culture, and with the acquisition of Conimex we want to make it easier for even more consumers to enjoy cooking Asian food at home.
“This acquisition establishes our position in the Asian category in the Netherlands. It also allows us to combine portfolio and concept development, leveraging Paulig’s strong R&D and production capabilities to grow our World Foods portfolio in Europe.”
The closure of the deal is subject to receipt of merger control clearance from the Dutch competition authority and completion of other works council consultation procedures.
This acquisition builds on Paulig’s purchase of UK-based Panesar Foods, a manufacturer of sauces, salsas, and condiments, in October.
Paulig said the company now intends to use the production capabilities of Panesar Foods to support the growth of Conimex and its Santa Maria brand across Europe.
Founded in 1876, Paulig is a family-owned business operating in 13 countries with a workforce of 2,500 employees.
Last year, the company posted sales of approximately €1.2bn ($1.26bn).
Paulig manufactures snacks, spices, coffee and Tex Mex products, both branded and private label. Its portfolio includes brands such as Santa Maria, Risenta, Poco Loco, and Zanuy.
