US group Nutroganics has struck a deal to buy soy yoghurt firm Wholesoy & Co.
The deal, signed for an undisclosed sum, will see Wholesoy added to a Nutroganics stable that includes honey products business Silverbow Honey Co. and nutritional supplements supplier NuStar Manufacturing.
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Wholesoy, based in California, has listings with grocers including Whole Foods Market and Fairway Market Holdings, Nutroganics said.
The business generates annual sales of around US$7m. Nutroganics said the transaction would be accretive on an EBITDA per share basis “after a 120-day transition”.
The transaction is subject to several conditions, including finalising “suitable terms” with Wholesoy’s vendors and some of the company’s creditors, Nutroganics added.
“Wholesoy is a terrific brand in the natural foods industry, which would fit well within the Nutroganics portfolio,” Nutroganics CEO David Sackler said. “We look forward to working with Wholesoy’s management as we strive to close the transaction.”
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