Wessanen is announcing today the signing of a sale and purchase agreement to acquire French-based organic and fair-trade food company France Alter Eco from a group of private investors. The acquisition is expected to be closed early June, depending on satisfaction of certain closing conditions.
France Alter Eco is engaged in organic and fair trade products such as chocolate, coffee, tea and juices. Under its brand Alter Eco around hundred products are marketed in the grocery, independent stores and out-of-home channels. It has developed strong partnerships with farmers' cooperatives, based on fair trade and respect for human rights and environment. The acquisition does not include France Alter Eco's activities in North America.
The company is based in Paris and generated revenue of € 16.5 million in 2012. From its foundation in 1998, it has been a pioneer brand of fair-trade and organic food products in France. For additional background information, please visit www.altereco.com.
France Alter Eco will become part of Distriborg, the French-based operations of Wessanen, which is the French market leader in organic food selling well-known brands such as Bjorg, the largest organic brand in France, Bonneterre, Evernat and Gayelord Hauser. Alter Eco is a very welcome addition to these brands and is part of our commitment to provide organic foods.
Piet Hein Merckens (CEO Wessanen) comments: "We are very pleased with the acquisition of France Alter Eco. Its brand, products and philosophy are complementary to those of our successful French business. After having taken Clipper on board early 2012, this acquisition will be another milestone in the execution of our strategy of strengthening our European leadership in organic food."
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Carl Hoyer (VP Corporate Communications)
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