Acquisition of Abafoods

All Abafoods drinks are 100% organic, 100% vegetal, 0% lactose.  

Abafoods, a European expert in vegetal drinks and a leading brand in Italy, has been acquired in January 2015. The purchase consideration amounted to €52 million on a cash and debt free basis.

Abafoods is a European expert in organic vegetal drinks and an Italian brand leader in HFS in dairy alternatives with the Isola Bio brand. It operates an advanced manufacturing plant in Badia Polesine (Italy) and owns around 400 hectares of organic farm land in Italy to partly grow its raw materials.

For 2014, revenue and EBITDA are expected to increase substantially to around €39 million (vs €27mln in 2013) and €6 million EBITDA.

Isola Bio is the leading brand in vegetal drinks in Italian health food stores and is also exported successfully to a wide range of export countries. Next to its own brands, Abafoods currently produces a significant part of non-soy cereal drinks for our Bjorg and Bonneterre brands and it also manufactures for other third parties in Europe.

Vegetal drinks are showing strong growth in our various markets and we expect that growth to continue in the years to come.

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