The general assembly of Catalan cooperative Arrossaires del Delta de l’Ebre has approved the purchase of the Nomen brand from Spanish food group Ebro Foods.
In a statement at the weekend, Arrossaires del Delta de l’Ebre said 70% of its board had approved the acquisition, following two months of negotiations with Ebro.
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The Spanish food group had announced the sale of Nomen last month. The divestment of the brand was a condition, put in place by the Spanish competition watchdog Comisión Nacional de la Competencia, of Ebro purchasing the rice business of fellow Spanish food maker Deoleo.
If approved by the competition commission, Arrossaires del Delta de l’Ebre will obtain control of the brand from 1 September.
The company said the purchase will be “an important step” in strengthening its presence in the private label sector.
The deal is reported to be worth EUR40m (US$52.6m), although neither companies have released financial details of the transaction.
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