FDBusiness.com

Royal Wessanen, a European leader in healthy, organic and sustainable food, is being acquired for €885 million by a consortium consisting of PAI Partners and Charles Jobson, who already owns 25.74% of the Netherlands-based food group. PAI has a strong track-record of acquiring businesses and supporting management teams to invest for growth, both organically and through acquisitions. PAI has an extensive network and relationships across the food and consumer sector in Europe with previous investments in the sector, from which Wessanen would benefit.

The acquisition will enable Wessanen to continue to invest in initiatives in order to maintain its position as a leader in sustainable foods. The consortium shares Wessanen’s view to pursue growth of its leading healthy and sustainable food brands.

Christophe Barnouin, chief executive of Wessanen, comments: “Our vision is to build a European leader in organic and sustainable food. We want to remain at the forefront of making food healthier and more sustainable for the benefit of both consumers and the planet. This requires a long-term commitment from shareholders and long-term investments. It is all the more critical in an era where organic, sustainable and healthy themes have grown increasingly popular, which in turn has resulted in a more competitive landscape. PAI and Charles Jobson are fully supportive of our strategy and will bring a longer-term horizon and additional investments supporting the execution of our plans. We believe that for our existing shareholders, the offer represents an attractive price.”

Gaëlle d’Engremont, partner at PAI Partners, says: “Wessanen is extremely well positioned in the European health food industry, housing high-quality brands and being at the forefront on innovation in this rapidly growing sector. We intend to accelerate Wessanen’s growth using our experience in the food and consumer space and investing further in the brands and the people of Wessanen to increase the reach of the company.”

Charles Jobson adds: “Since 2009, I have been a supporter of Wessanen’s vision to become Europe’s leader in healthy and sustainable food. I have been following Wessanen closely and strongly believe in a bright future for all its stakeholders. As a private company, I believe Wessanen will have better potential to accelerate and continue to be at the forefront in the industry. Together with PAI, a long-term strategic partner, we will support Wessanen and its management in the execution of its strategic plans over the coming years.”

Upon completion of the transaction, PAI will hold approximately 62% and Charles Jobson approximately 38% in the consortium.