© Bell Food Group
Swiss meat manufacturer Bell Food Group has announced it has acquired soup and sauce producer Hügli, in a deal worth CHF 915 ($948) per share.
Bell Food Group purchased the 50.2% stake held by Dr A Stoffel Holding, and has made a bid to secure the rest of the outstanding shares.
The company also plans to increase capital investment by CHF 600 million ($622 million), in order to finance the acquisition and fund an investment programme to upgrade the brand’s production facilities in Switzerland.
Bell Food Group stated that the acquisition will help to achieve significant growth in the convenience food market, estimating that a quarter of the brand’s future revenue will be generated from this sector.
Hügli produces a range of soups, sauces and meat alternatives for the convenience food sector, operates ten production plants in multiple European countries and employs 1,500 people.
The company will continue to operate as an independent unit once the purchase has been completed.
Hansueli Loosli, chairman of the board of directors of Bell Food Group said: “As well as strengthening our traditional areas of business, the acquisition of Hügli marks an important milestone in our growth strategy in the convenience sector.
“We are proud that Hügli’s founding family has chosen us as the new owner. We believe this combination has great potential to benefit our customers, employees and shareholders.”
© FoodBev Media Ltd 2022
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