Portugese multinational Sonae has announced that its subsidiary Sonae Food4Future has completed the acquisition of Claybell Limited, owner of vegan food producer Gosh Food.
Sonae Food4Future acquired 95.4 per cent stake in Claybell for £64 million.
Gosh is a major player in the high growth plant-based food sector, delivering clean label and free-from allergen products — from healthy snacks to ready-to-eat products — both under the Gosh! brand and as a private label across the major retailers and food service players in the UK.
The company recorded a normalized turnover of £22 million in the fiscal year ending in May 2021. Gosh will continue to be managed by the current team, who will hold the 4.6 per cent minority stake.
“This acquisition follows Sonae’s active portfolio management strategy focused on innovative companies in growth sectors around its core businesses. It allows Sonae to invest in the high potential natural and plant-based food industry, while leveraging its know-how in the food and retail sectors to accelerate the company’s value creation plan,” Sonae said in a statement.
“The transaction also has a strong fit with the group’s ambition to expand its international footprint and drive a more sustainable future, as it represents an investment in a sector which will assume an increasingly important role in transforming consumption behaviours in response to the current megatrends of climate Change and healthy nutrition.”
