Wessanen and the Organic Flavour Company bv have signed an agreement for the purchase of the Piramide tea brand. Closing is expected to be in March 2016.
Piramide is a long established tea brand in the Netherlands and leader in the Health Food Stores channel. It has a broad range of high quality herbal, black and green teas and is 100% organic and where relevant, fair trade certified. The quality and purity of its blends make it a reference for tea drinkers in the Organic market.
Tea is a core category for Wessanen and a key part of the market for healthy, sustainable and organic food. Especially organic herbal and green teas are a growth segment as consumers are looking for healthier and more sustainable options. Wessanen is a European leader in Organic teas and Piramide will be an addition to our strong portfolio of tea activities on the Zonnatura, Clipper, Alter Eco, Bonneterre and Bjorg brands.
Christophe Barnouin (CEO of Wessanen) commented: "The accretive acquisition of Piramide is a further step in the execution of our strategy and will strengthen our leadership of Organic teas in The Netherlands across both the Grocery Channel(with Zonnatura and Clipper) and now also Health Food Stores. It fits our ambition to build strong brands across all channels and to further strengthen and leverage our scale, expertise and capabilities in core categories. Piramide will further extend our overall leadership of the Health Food Store channel."
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Ronald Merckx (CFO)
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