Sonae negotiates purchase of French company for €152 million
Sonae’s Sparkfood, an investment arm of the group led by Cláudia Azevedo, dedicated to healthy and sustainable foods, is in exclusive negotiations to acquire Diorren located in Brittany.
Reports Negócios, since September 2021, when it forked out €75 million for the purchase of the British company Gosh!, Sonae has invested “over €110 million” on the purchase of a handful of companies and startups “dedicated to “healthy and sustainable food solutions”, all of them overseas companies (UK, Germany, Italy, and France), that have been placed under the holding Sparkfood, the name of the business unit created to that effect by the group.
Sonae now intends to strengthen its portfolio in Sparkfood with an international purchase, which when completed, would more than double the investment made by the group up until now in this business, as it negotiates the acquisition of a majority share in the French company Diorren, valued at €152 million.
The Brittany-based French company employs 200 staff and closed 2023 with a business turnover of €53.5 million — posting an annual growth of 11% over the past three years, two-thirds of which has come from exports with an EBITDA net profit of €14.1 million, meaning an annual growth between 2020 and 2023 of 16%.