The venture between Mexico’s Grupo Herdez and Grupo Kuo has acquired Interdeli and associated business Deli, Dips & Snacks.
The acquisition of the Mediterranean-style food companies is valued at MXN587m (US$29.4m). Interdeli spun off Deli, Dips & Snacks in 2016 and both companies offer products under the Libanius brand.
The deal has been struck by Herdez Del Fuerte, an equally-split joint venture between Grupo Herdez and Mexican conglomerate Grupo Kuo.
A spokesperson for Grupo Herdez told Just Food the businesses had been acquired from the family owners and a fund but declined to provide names. Local private-equity firm Capital Indigo was an investor in Deli, Dips and Snacks back in 2014 to 2016.
The other Mediterranean-food brands include Flaveur and Liguria, featuring pita bread and labneh, a Greek-style yogurt.
Héctor Hernández-Pons Torres, chairman and CEO of Grupo Herdez, said: “With this acquisition, we strengthen our powerful brand portfolio.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Grupo Herdez, an ice cream-to-cooking-sauces supplier, posted sales in 2021 of MXN26.1bn, up 8.8%. However, profits declined.
EBITDA dropped 6% to MXN3.9bn and EBIT fell 7.6% to MXN3bn. Net profit was down 12.3% at MXN2.1bn.
Kuo CEO Alejandro de la Barreda Gómez added: “With the incorporation of Mediterranean, we strengthen the Herdez Del Fuerte portfolio through authentic products, focusing on new consumer trends with high-growth potential. In addition, we will benefit from strategic, operational, and commercial synergies in the consumer sector.”