Source: Violife
Upfield’s deal to buy Violife’s parent company Arivia is said to be worth around €500m
Plant-based spreads giant and Flora owner Upfield has completed its purchase of Greek vegan cheesemaker Arivia, owner of Violife.
Talks were said to be at an advanced stage in October, with KKR-owned Upfield beating a number of other firms to the deal, said to be worth around €500m.
The deal was completed last week following customary regulatory approvals.
Violife has listings for its vegan cheese alternatives, spreads and other plant-based foods with Asda, Sainsbury’s, Ocado, Whole Foods Market and Planet Organic.
“Bringing together plant-based margarines and cheeses under one roof is a natural fit,” said Upfield Group CEO David Haynes. “We’re confident that the combined expertise of both companies will continue to drive exciting growth and innovation in the plant-based food sector.”
Violife saw value sales grow by £3.2m to £13.2m last year [The Grocer Top Products survey/Nielsen 52 w/e 7 September].
