Germany-based food giant Dr Oetker is looking to add to its baking business with the acquisition of Unilever‘s Alsa unit in France.
Dr Oetker has made a “binding offer” for Unilever’s Alsa baking and desserts arm, the UK-based consumer goods group said today (9 February). Financial terms were not disclosed.
The deal, which remains subject to staff consultation and regulatory approval, would see Dr Oetker take on an Alsa brand sold in France, in other European markets and in north Africa. The company would also acquire a factory in the French town of Ludres.
Didier Muller, the general manager of Dr Oetker’s business in France, said: “Alsa is a brand whose know-how and product quality perfectly complement our product range. Our goal is to pursue the brand’s growth and development both in France and internationally, based on its know-how and innovation capabilities.”
The transaction would be Unilever’s latest move to reshape its non-ice cream food business, which has predominantly meant disposals in recent years, though it has made invested in that part of its operations through M&A in the last 12 months.
“In the context of our global strategy to accelerate long term, sustainable value creation, the baking and desserts category is not part of Unilever’s evolving core portfolio,” Bauke Rouwers, the general manager for Unilever’s French arm, said.