Associated British Foods has taken control of UK cereal maker Jordans with an agreement to merge its Ryvita crispbread business with the company.
ABF, which bought 20% of Jordans last year, said this morning (2 June) that it would take a 62% stake in the combined business. Financial details were not disclosed.
“We are creating a strong new business and I look forward to the further development of both the Jordans and Ryvita brands,” ABF chief executive George Weston said.
The Jordan family is expected to remain “fully involved” in the running of the new business. Chairman Bill Jordan, who founded the company in the 1970s, said it was “very natural” for Jordans and Ryvita to join forces.
“Jordans has now reached the point where the benefit of wholegrain cereal is understood by a mainstream, and international, market,” Jordan said. “This new partnership gives us scale and the ability to share our beliefs, in the benefits of natural foods and protecting the countryside, with even more people.”
ABF said the move would create “some cost savings” but insisted its overseas network would help boost international sales of the Jordans range of cereals.