Spanish food manufacturer Grupo Palacios de Alimentación has expanded its desserts unit with the acquisition of a majority stake in UK chilled desserts supplier Rhokett.
The acquisition will help Grupo Palacios strengthen its position in the UK market, as well as reinforce its “leading position” in the chilled desserts space in Europe.
Pedro Dominguez, Grupo Palacios’ CEO, said: “This acquisition is aligned with our strategic objectives and continuing M&A activity, and will enable internationalise the Grupo Palacios in one of our target markets, such as the United Kingdom.”
Founded in 2002, Rhokett offers a wide range of hand-finished, restaurant-quality desserts. According to Grupo Palacios, the company is known for its strong in-house research and development capabilities and currently has three production sites in Cranbrook and Hawkhurst in Kent, UK.
Terms of the transaction were not disclosed.
© FoodBev Media Ltd 2021
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