Obela, the dips venture jointly owned by Pepsi and Strauss Group, is selling houmous brand Florentin Organic Kitchen to German firm Kaja Food.
The deal, struck for an undisclosed sum, comes as Obela looks to focus on fewer markets, the business told Just Food.
“We can confirm that [the] Obela shareholders have decided to wind down operations in Europe at the end of the month … focusing investments in growth markets, which today include Mexico, Australia and New Zealand,” Christian Exner Arizaga, director of marketing and business development of Obela’s European division said. “The Florentin business will be sold to give it the attention that it deserves to grow and flourish.”
Florentin is a Dutch manufacturer of organic houmous, falafel, pita bread, dips and other Middle Eastern goods. The firm’s main markets are the Netherlands, Germany, and France.
Obela acquired Florentin in 2016 and paid EUR9m (US$9.5m), plus an additional EUR1.8m, contingent on performance.
Kaja Food is a German company focused on healthy and “functional” eating. It has two factories spread out over 13,000 sqm, one in Kempen, Germany, producing dry mixes and snacks, and one in Mijdrecht in the Netherlands making spreads and salads.
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PepsiCo and Strauss have two ventures. Obela, formed in 2011, focuses on Central America, Europe, Australia and New Zealand. Sabra, set up four years later, sells into the US.