Vivartia, Greece’s largest food group, is set to enter the US bakery and confectionery sectors with the acquisition of snack firm Nonni’s Food Co.
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Vivartia has agreed to buy Nonni’s from the US firm’s private equity owners Wind Point Partners for US$320m.
Chairman Dennis Malamatinas said Nonni’s “brand leadership” and contacts with key US retailers had attracted Vivartia and its owner, Greece-based private equity fund Marfin Investment Group.
“Nonni’s has great brands with attractive, high-end products found from Safeway to Starbucks, and we believe it is a perfect fit for Vivartia as we expand into the North American market,” Malamatinas said.
Oklahoma-based Nonni’s makes a range of baked goods sold its namesake brand, as well as the New York Style and Old London labels.
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By GlobalDataThe deal is expected to go through on 1 April.
