Spanish food group Sos has finalised the purchase of Dutch rice maker Lassie and Italian olive oil producer Carapelli, boosting its foothold in international markets.
In a regulatory filing, Madrid-based Sos said it closed the purchase of Sara Lee-owned Lassie for €52m after striking a pending agreement with the firm’s trade unions.
Moreover, the firm announced it had formalised the acquisition of Florence, Italy-based olive-oil producer Carapelli for €132.5m, a deal that will reportedly turn it into one of the world’s biggest brands.
Lassie has a 45% market share in Holland and it delivered sales of €25.6m last year.
In contrast, Carapelli boasts a 14% share of Italy’s olive-oil market. It posted sales of €256m in 2005.
Carapelli exports olive oil to markets in the US, France, UK, Canada, Belgium and Austria.
