Neerlands Glorie Vegetable and Fruit – the Dutch holding company behind vegetables, beans and applesauce business HAK, has acquired a 51% stake in German distributor Foodeko for an undisclosed sum.
HAK has been marketing products in Germany via Foodeko since 2013. Foodeko also distributes products including Heinz sandwich spread.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
HAK described itself as “successful in Germany” with its namesake applesauce and red cabbage with apple pieces, especially in the north west of the country. Foodeko generated a turnover of EUR19m (US$22.7m) in 2016.
Foodeko’s staff and its non-HAK-related business will be transferred to a joint venture that will continue under the name HAK-Foodeko.
The remaining shares remain in the hands of Foodeko general manager Jens Wohlrab, also one of the founders of the company. Both shareholders have “ambitious plans and want to expand their activities and double their turnover in the next five years”, a statement issued by HAK said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
