Iceland-based food combine Bakkavör Group has acquired UK company Welcome Food Ingredients, a producer of flavourings and sauces.
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Bakkavör said the acquisition would further strengthen its UK business. The purchase price was not disclosed but Bakkavör said the deal was being funded from existing cash resources.
“The acquisition of Welcome Foods Ingredients brings to the group an added-value business with good prospects for continued growth through existing and new customers in the UK,” said Bakkavör Group CEO Ágúst Gudmundsson.
The company said the acquisition would not have a material effect on its results for the current financial year.
Welcome Food Ingredients was founded in 1994 and specialises in the production of flavourings, sauces, pastes and dressings for the food industry. Based in Nottinghamshire, Welcome has a total workforce of 115.
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