European private-label snack businesses Grupo Ibersnacks from Spain and Anglo-French peer Europe Snacks Kolak have merged.
The companies said the agreement will allow them to unify their businesses in order to “become one of the reference groups of its sector in Europe”, with a joint turnover of EUR350m (US$405.7m), a staff of 2,000 people and a production capacity superior to 150,000 tons of chips and snacks.
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The financial details of the transaction have not been disclosed and nor has the name of the group formed out of the merger. Ownership percentages have not been made public either.
However, it has been revealed Felix Eguia, the CEO of Ibersnacks, will become a shareholder and advisor of the new group.
The new group will have eight plants – two of them in Spain, four in France and two in the UK.
Spanish supermarket group Mercadona will continue to be the main client of the new group since Ibersnacks and European Snacks Kolak are suppliers to the company.
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By GlobalDataFrance-based private-label snacks group Europe Snacks and UK peer Kolak Snack Foods merged in October 2016.
The group provides a wide range of crisps, other snacks and popcorn to its 200 European distribution customers.
When contacted by just-food for further details, a spokesperson for Europe Snacks Kolak said: “Already recognised as leading manufacturers of savoury snacks for private-label brands in their respective home markets – France, Great Britain and Spain – Europe Snacks and Ibersnacks wish to merge.
“The combination will enable them to share and build on their industrial expertise, their innovation capabilities, their production capacity, their complementary products and increase its product offering to their customers.
“This merger marks another significant step in the group’s vision to continue developing their market share on the European market.”
