LT Foods acquires 30% stake in Dutch food company Leev.nu

India’s LT Foods subsidiary Nature Bio Foods (NBF) has reportedly acquired a 30% stake in the Netherlands-based organic food company Leev.

Financial details of the deal have not been disclosed.

The Hindu Business Line reported that the acquisition of Leev is in line with NBF’s long-term growth plans.

Leev’s product portfolio includes breakfast bars, healthy snacks, and gluten-free and low sugar products.

The Dutch firm is said to have been planning to further enhance its product offerings with organic whole grains categories such as oats and flax seeds.

LT Foods said that NBF provides authentic organic products worldwide and it has also established distribution subsidiaries in the US and Europe.

According to the deal, NBF will have the option to acquire an additional 21% stake at the end of five years.

LT Foods chairman and managing director Vijay Kumar Arora was quoted by the Hindu Business Line as saying: “Strategically, this acquisition gives NBF BV, a direct reach to the consumers through the mainstream distribution strength of Leev.”

“Leev will now have access to 100% organic products grown by Nature Bio Foods’ network of nearly over 60,000 organic farmers, cultivated in over 80,000ha of certified organic land in India.

“Now consumers of the Netherlands will enjoy the finest organic Ingredients from India with local distribution in the Netherlands. This will further promote the share of India’s organic food in the EU.”

Last May, Saudi Agricultural & Livestock Investment Company (SALIC) acquired a 29.91% stake in Daawat Foods (DFL) from India Agri Business Fund.

The funds are expected to strengthen SALIC’s rice supply chain.