Ebro Foods acquires 52% stake in Italy-based ingredient maker Geovita
Spain-based Ebro Foods has acquired a 52% stake in Italian ingredient manufacturer Geovita Functional Ingredients and its subsidiary Geovita Nutrition (together Geovita) for €16.5m.
The acquisition is part of Ebro Group’s growth strategy, which focuses on strengthening its presence in the convenience and healthy food segment.
Ebro Foods claimed that the deal demonstrates its commitment to offer and promote a healthy diet and lifestyle, in which legumes play an important role.
Geovita produces and sells legumes, rice, fast-cooking grains and other healthy ingredients.
The company has 94 employees and has three manufacturing sites across the country.
In January, Ebro Foods acquired 100% capital of Vegetalia and Corporacio Alimentaria Satoki (jointly Vegetalia), from their founding shareholder, through its French subsidiary Alimentation Sante.
Founded in 1986, Vegetalia has been engaged in the production and distribution of a broad range of organic food products.
Ebro offers products such as rice, pasta and sauces. Through its network of subsidiaries and brands, it is present in more than 25 countries in Europe, North America, Asia and Africa.