Wessanen acquires Biogran, the leading manufacturer and distributor of organic brands in Spain
December 05 2016 - 6:49AM
Wessanen acquires Biogran,
the leading manufacturer and
distributor of organic brands in Spain
Wessanen and Nazca have signed an agreement for
the acquisition of Biogran for a purchase consideration of €67
million on a cash and debt free basis. Closing is expected later
today.
Over the last few years, Biogran has recorded
strong growth in both Health Food Stores as well as in Grocery
Trade in Spain. In 2015, net revenue amounted to €27 million. In
2016, net revenue is expected to grow to €32 million with an EBITDA
margin of close to 17%.
Biogran owns the leading organic brand in Spain,
El Granero and has very successfully extended into the Grocery
Trade with its Ecocesta brand. Main product categories are ambient
organic/natural food such as cereals and rice cakes.
Christophe Barnouin (CEO of
Wessanen): "The acquisition of Biogran broadens our geographic
footprint and is a further step in the execution of our
strategy and vision of becoming the leader of organic and
sustainable food in Europe.We are very pleased to welcome Biogran
to the Wessanen family of leading organic and sustainable food
companies. Biogran gives us broad access to the growth potential in
one of the most dynamic countries in the European organic market:
the Spanish organic market has grown at double digit rates over the
last few years. The acquisition of Biogran represents a major
growth opportunity for Wessanen to develop our business in the
country".
Analyst and Investor
call
On 05 December at 14.30 CET, an analyst &
investor conference call will be hosted by Christophe Barnouin
(CEO) and Ronald Merckx (CFO). You can dial in using the following
telephone number: +31 (0) 20 703 8261 or toll free at 0800 023 1436
(please quote "Wessanen").
The press release and presentation are available
for download at www.wessanen.com.
For more
information
Ronald Merckx (CFO)
Phone +31 (0)20 3122
126
Email
ronald.merckx@wessanen.com
Twitter
@Wessanen_250
For PDF click here
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Wessanen via Globenewswire
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