France: Bel in talks to acquire MOM Group
Bel, the French dairy multinational, has announced that it has entered into exclusive negotiations to acquire the MOM Group, a manufacturer of dairy and fruit snack products, from LBO France.
Created at the end of 2006 with the merger of the Materne and Mont Blanc brands, MOM Group describes itself as the "undisputed market leader" in fruit compotes and creams desserts and employs more than 1,200 staff. The firm's turnover in 2015 was €362 million ($404 million).
Bel said a deal between the three firms would enable Bel and MOM to "fashion together a major global player in the healthy snacks segment, founded on strong and innovative brands, and very highly complementary product ranges and territories".
Commenting on the proposed deal, Bel chairman and CEO Antoine Fiévet said: "This deal alongside MOM Group's management represents an historic opportunity for Bel to accelerate the building of a major player in single-serving healthy snack portions, in step with the Group's strategic ambitions. The perfectly complementary nature of the product ranges is ideal for meeting growing consumer expectations and the nutritional challenges facing many, many countries. Focusing the teams on a limited number of brands with strong international potential, and combining the industrial expertise and innovative capabilities of Bel and MOM creates an extraordinary foundation for growth".
Source: Bel / MOM Group