A consortium of private equity firm PAI Partners and Charles Jobson, the largest shareholder, will take over the Dutch multinational food firm Wessanen for €885 million (£765 million).
The deal will see Charles Jobson, who is holding 25.74 percent of the shares in Wessanen, increasing his stake to 38 percent. Paris-based PAI will hold the rest 62 percent.
Wessanen, whose brand portfolio in the UK includes Clipper Teas, Kallø and Whole Earth, said the acquisition will enable it to maintain its position as a leader in sustainable foods.
“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,” said Christophe Barnouin, chief executive of Wessanen.
“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.”
Wessanen said the takeover will not affect the existing rights and benefits of employees. The headquarters of the company will remain in Amsterdam.