NETHERLANDS – Orkla Food Ingredients, through its wholly-owned subsidiary Sonneveld Group, has acquired Dutch company Vamo produkten voor de Bakkerij, for an undisclosed sum.
Vamo manufactures ingredient mixes and concentrates for manufacturers of artisan bakery products, and holds a leading position in the Benelux countries for its corn-based products.
The acquisition further strenhthens Orkla’s position as a supplier of bakery ingredients and ice cream accessories in the Netherlands, where the Norwegian branded consumer goods conglomerate has built up a solid position through its subsidiaries Sonneveld, NIC, Broer and Laan.
“Vamo is a well-run company with a good customer base and a product portfolio that is a good fit with Sonneveld,” said Peter Verhagen, CEO of Sonneveld.
“The acquisition of Vamo will complement Sonneveld’s position as a supplier of ingredients and accessories to the bakery market.”
Established in 1963, Vamo’s headquarters and production facilities are located in Duiven, the Netherlands. The company is currently owned by two private shareholders who jointly head the company.
The owners also hold a 20 percent stake in the company Quattro Enzymes Solutions, in which Sonneveld owns a 60 percent interest.
Last year, the firm recorded turnover of €12.4 million (US$13.66m) and EBIT of €1.6 million (US$1.76m).
The deal sees Orkla continue its spree of acquisitions after it recently agreed to acquire Zeelandia Sweden AB, a manufacturer and supplier of margarine and other edible fats in Sweden.
In August this year, the company also acquired a minority stake in Icelandic chocholate company Nói Siríus.
Orkla has also completed an agreement to acquire 43.5 percent stake in Portuguese company Asteriscos e Reticências, SA, which produces fermented tea-based health drinks that are sold all over Europe under the Captain Kombucha brand.
As the company aims to reduce portfolio complexity and bring focus on prioritised business categories, it has agreed to divest its seafood brand Glyngøre to Denmark based producer and exporter of fish, Amanda Seafoods A/S.
The company has also announced the appointment of Jaan Ivar Semlitsch as the firm’s new President and Chief Executive Officer (CEO), effective 1 December.