Spain: Ebro Foods expands in organic with Vegetalia buy
Spanish manufacturer Ebro Foods has announced that it is pushing further into the natural and organic space with the acquisition of the Italian food and drinks firm Vegetalia for €15 million ($16 million).
Founded by Salvador Sala Druguet in 1986, Vegetalia is engaged in the preparation and distribution of a broad range of organic food products and is described by Ebro Foods as a pioneer in the manufacturing of vegetable protein. It sells around 1,500 products a year, including fresh and dry organic food, organic drinks and diet food. In 2016 it posted annual turnover of €11.5 million ($12.3 million).
The acquisition of Vegetalia comes less than a year after Ebro Foods' previous expansion in the organic space. In early 2016, it announced that it was buying the French organic firm Celnat, a producer of cereal-based goods and other food products. The move also marks a further step for the company into the Italian market, having acquired a majority stake in pasta firm Pastificio Lucio Garofalo in 2014.
In a statement, Ebro Foods said the acquisition of Vegetalia would increase its market share in organic food and also demonstrated its "interest in investing in the Spanish food industry".
Source: Ebro Foods