Italian plant-based business Valsoia has entered the kefir drinks category with the acquisition of a majority stake in Slovenia’s Kele & Kele.
Valsoia said it has paid around €3m ($3.5m) for a 70% interest in Kele & Kele, which owns the Krepko brand of kefir, for an enterprise value of €5.4m.
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The Bologna-based company also has an option to purchase the remaining 30% from the founders of Kele & Kele after three years. For the time being, the Slovenian firm’s management will remain in place.
Milan-listed Valsoia said in a statement the deal enables the company to enter a “strongly developing market with a leading brand, driven by the growing demand for healthy and natural foods”.
Kele & Kele was founded by the Kelečevič family in 1992 and is focused on the Slovenia market. Based near Ljubljana, the company supplies retail and foodservice customers.
The Krepko brand holds a 30% share of the local kefir market, according to the statement.
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By GlobalDataValsoia’s chairman Lorenzo Sassoli de Bianchi said: “The acquisition of the kefir brand Krepko represents a transaction of significant future value for our company.
“In addition to entering the extremely dynamic Kefir market with the leading brand in Slovenia, recognised for its unique, premium positioning in authentic traditional kefir, we are strengthening our direct presence in Europe.”
The Italian company’s portfolio consists of plant-based meals, desserts, spreads, condiments and gelato. It also features oat drinks.
Kefir has been growing in popularity outside of the traditional markets of eastern Europe as consumer interest in gut health gains traction.
UK-based Biotiful was founded in 2012 by Russian national Natasha Bowes but like the Krepko brand has recently been acquired. European dairy heavyweight Müller bought the business this year for an undisclosed sum.
