Icelandic seafood specialist Alfesca has completed the acquisition of the frozen food business of French bakery group Brossard, following the start of exclusive negotiations in April.
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Brossard president and CEO Joël Schumacher said Alfesca was purchasing the unit for around EUR24.5m.
The group’s frozen food business includes two production plants, located in Castelsarrasin and Neubourg. The unit manufactures aperitifs, savoury snacks, desserts, sweet snacks and cakes.
Schumacher added that Brossard would concentrate fully on its cake and biscuit-making activities, which were expected to generate an annual turnover of EUR68m.
The acquisition expands Alfesca’s existing brand portfolio and strengthens its production base in France.
