Spanish food firm Ebro Foods has announced the acquisition of France's Roland Monterrat.
Roland Monterrat is the producer of fresh ready-to-serve food. It has 390 employees and last year posted a turnover of EUR64m.
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Ebro said the acquisition will boost its growth iin the fresh products segment and allows it to enter "very complementary business segments…opening up new opportunities for growth".
"Through the incorporation of Monterrat, we will achieve further synergies with our French company, raising the group turnover in the ready-to-serve area by 50% and giving it a foothold for entry into the snack market. As for Monterrat, its incorporation in our group will enable it to benefit from the "savoir faire" characteristic of Ebro and the Panzani Group, helping it to step up its business development, both in France and throughout Europe," the company said in a statement.
The deal is valued at EU44.25m and is expected to close by the end of September.
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