Hügli Group has acquired an 80% stake in Dutch foodservice supplier Bresc, in a deal that expands the Swiss company’s geographical reach and scales up its foodservice operations.
Bresc specialises in the development, production and sale of chilled garlic and herb products. “The chilled garlic specialties, herb mixtures and purees are appreciated for their high quality, their authentic flavour as well as their convenience; they perfectly match the needs of gourmet professionals and procedures of the food industry,” Hügli suggested.
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Hügli said the deal is part of its strategy to expand in the “fast-growing” foodservice segment offering chilled flavouring products. “It will round off our established line of dry blends and form an excellent strategic complement to our core business,” Hügli said.
Bresc employs 60 people and generates annual sales of EUR12m (US$13.5m). Its largest markets are the Netherlands, Belgium and Germany.
Following the acquisition, Hügli and Bresc are expected to benefit from complementary geographies. “The acquisition enables Hügli to gain a direct foothold in the Benelux states, whereas Bresc will profit from the relationship network Hügli maintains in ten European countries,” the company suggested. Moreover, joint distribution of products will deliver synergies, Hügli added.
Bresc will continue to operate out of its current location in Sleeuwijk, east of Rotterdam. Existing management will continue to hold a 20% stake in the company.
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By GlobalDataFinancial details of the transaction were not disclosed.
Earlier this week, Hügli revised its expectations for annual sales and EBIT, with the company saying investment will dent its operating profit.
The new estimates came alongside half-year results that included a fall in sales on an organic basis amid challenges in the UK and Germany.
