Bel signs agreement to acquire All in Foods, in line with strategy to diversify into plant-based foods
12 Março 2020 - 2:55PM
Bel signs agreement to acquire All in Foods, in line with strategy
to diversify into plant-based foods
Suresnes — March 12,
20206.45 pm
The Bel Group and the founders of All in Foods
today signed an agreement under which Bel will acquire All in
Foods, a French startup that produces the Nature & Moi brand.
Bel will become the majority shareholder with an 80% stake, while
the All in Foods' founding family will own the remaining 20%
interest.
The acquisition is in line with Bel's strategy
unveiled in 2015 aimed at expanding the company's activities beyond
cheese products to become a major player in the healthy snack
market. After acquiring Morocco-based Safilait, a dairy producer,
and MOM, the maker of the Materne®, GoGo squeeZ® and Montblanc®
brands, Bel today confirms its strategy to diversify its product
offering through growth in dairy, fruit and plant-based products,
three complementary food segments.
Founded in 2013 by the Jouault family, All in
Foods is a French startup based in Saint-Nazaire, in France's Loire
Atlantique region. The company has applied its recognized knowhow
in plant-based foods to develop a wide range of plant-based
alternatives to cheese, available in slices, blocks, bloomy rind,
grated, and spreads, as well as plant-based sauces, under the
Nature & Moi brand. In just a few years, All in Foods has
become a key player in the plant-based foods sector, with its
products sold primarily in hypermarkets and supermarkets, food
service and B2B in France and internationally.
The fast-growing All in Foods anticipated
consumer expectations early on and stands out in its market for the
organoleptic profile of its products. The acquisition constitutes a
particularly relevant innovation accelerator in the drive to meet
sustainable food challenges.
Bel has thus gained recognized knowhow and a
broad range of 100% plant-based products to enhance its existing
product portfolio. The newly acquired savoir-faire will also help
speed up the development of plant-based products across Bel's
entire brand portfolio, which includes such as brands as The
Laughing Cow®, Kiri®, Mini Babybel®, Boursin®, and others, by
offering wholly plant-based alternatives, as well as products that
combine both dairy and plant-based raw materials.
Bel will self-finance the acquisition. The
financial details of the transaction will not be disclosed. A
liquidity agreement will allow Bel to acquire 100% of All in Foods'
share capital by 2024. The deal is expected to be completed at the
latest by the end of May 2020.
Antoine Fievet, Chairman and Chief Executive
Office of the Bel Group, said, "The Bel Group has enhanced its
entry into the plant-based era and confirms its strong ambitions.
We continue to diversify our product offering to meet new consumer
expectations, and we are guided by our mission to champion
healthier and responsible food for all. We believe in the
excellence and potential that All in Foods has to offer, to meet
the challenge for more sustainable food."
Bertrand Jouault, All in Foods' founder, said,
"The All In Foods story is one of passion and family. We share
common values with the Bel Group and the belief that plant-based
foods offer enormous possibilities for our food of tomorrow."
About Bel
The Bel Group is a world leader in branded
cheese and a major player in the healthy snack market. Its
portfolio of differentiated and internationally recognized brands
include such products as The Laughing Cow®, Kiri®, Mini Babybel®,
Leerdammer®, Boursin®, Pom’Potes®, and GoGo squeeZ®, as well as
some 20 local brands. Together, these brands helped the Group
generate sales of €3.4 billion in 2019.
Some 12,400 employees in some 30 subsidiaries
around the world contribute to the deployment of the Group's
mission to champion healthier and responsible food all. Bel
products are prepared at 32 production sites and distributed in
nearly 120 countries. www.groupe-bel.com
------------Public
relations
Bel Group – Agence BCWAlice Dalla Costa / Cécile
Pochard alice.dalla-costa@bcw-global.com /
cecile.pochard@bcw-global.com+33 (0)1 56 03 12 26 / +33 (0)1 56 03
12 95
- BEL_Press Release_All in Foods_03122020_ENG