Spain’s Ebro Foods has struck a deal to acquire French organic food group Celnat for EUR25.5m (US$27.7m).
The deal will be completed through Ebro’s newly-created organic unit, Alimentation Santé, which means “healthy eating”. Ebro said the move reflects the growing emphasis it is placing on expanding in the organic sector. “The acquisition of Celnat will enable Ebro to boost its position in the healthy food segment, attach greater importance within the group’s activities to the organic category and strategically position itself within the new food trends,” the company suggested.
Go deeper with GlobalData
Celnat posted a turnover of EUR22m in 2015, 20% of which was generated in foreign markets. Ebro said the acquisition will “accelerate the growth” of Celnat in France and international markets.
The Celle family, who founded the business, will continue to manage Celnat.
