Finnish dairy manufacturer Valio has signed an agreement to acquire Gold&Green Foods from Paulig.
Gold&Green, which is known for its Pulled Oats products, has been a part of Paulig since 2016. The acquisition aims to further strengthen Valio’s position in the global plant protein market.
The agreement includes Valio’s acquisition of the Gold&Green brand, intellectual property, and its research and development (R&D) team. However, it does not include other Gold&Green operations and its production site in Järvenpää, Finland.
Tuomas Salusjärvi, EVP growth businesses and R&D at Valio, said: “Gold&Green has been a pioneer in the field of plant-based food and new product development, and Valio has successfully developed its Oddlygood plant-based product portfolio. Now, the Gold&Green R&D team joins us in reaching our strategic goal – to further strengthen our position in the growing global plant protein market. Together, we will develop the innovations in Gold&Green’s pipeline and continue the story of the brand.”
Paulig’s CEO, Rolf Ladau, added: “We believe that plant-based diets are a growing trend and will continue to contribute to this growth through our Tex Mex, spices and snacks product categories. Over the years, we have invested in the international growth of Gold&Green and its products are currently available in 17 countries. However, we have not been able to scale the business in a profitable way. This agreement with Valio secures the continuity of the unique and innovative Gold&Green brand and enables the realisation of its full potential in the future”.
Until a potential phase-out agreement has been reached, Paulig will continue operating Gold&Green Foods and selling its products under license from Valio in all markets.
© FoodBev Media Ltd 2022
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