Swedish health foods manufacturer and brand-owner Midsona has acquired German organic food pioneer Davert in a deal worth €48.5 million (SEK 511 million).
Malmö-headquartered Midsona says that deal, which follows a period of consolidation within Nordic markets, is a logical step for the company and “a bridgehead into Europe”.
In particular, the acquisition strengthens Midsona’s presence in the attractive organic food segment. Davert’s premium brand and product portfolio are seen as a perfect complement to Midsona’s existing organic brands.
Founded in 1984 by Rainer Welke, Davert is a leading manufacturer and distributor of organic dry packaged food, offering products under its own Davert brand as well as private label products. Davert’s portfolio includes a broad range of organic products in categories such as convenience products, snacks, superfoods and nuts, breakfast cereals, rice and pulses. The company’s products are sold through multiple channels including grocery, drugstores, health food stores, as well as to the food services industry.
In recent years, Davert has launched a new brand design, broadened its product portfolio and extended its distribution. In this period the Company also moved into a new, purpose-built production facility and significant investments were made in state-of-the-art manufacturing lines and an automated warehouse. Davert has approximately 150 employees, all of which are located at its facility in Ascheberg, North Rhine-Westphalia, Germany. Sales in 2017 were €64 million (SEK 616 million).
“Building on the successful expansion of our organic products business throughout the Nordic region, this transaction with Davert represents a logical next step and bridgehead into Europe. We are impressed by the Company’s high-quality products, its best-in-class manufacturing capabilities and the accomplishments of its team. Davert’s product portfolio, market position, multi-channel customer base and its significant competences across the supply chain, from sourcing to production to marketing, are an ideal strategic fit for Midsona. The outlook for the German organic market is strong and we believe that Davert is well positioned. We look forward to a bright future together with the Davert team”, says Peter Åsberg, CEO of Midsona.
” … this transaction with Davert represents a logical next step and bridgehead into Europe”
“We are delighted to be joining forces with Midsona, which I view as the perfect partner for Davert. The values and cultures of our companies are well aligned with shared strong beliefs in the importance of the environment, the critical need for sustainable food production and the benefits of organic food. We expect this combination to deliver meaningful benefits to our customers, business partners, consumers and employees“, says Erk Schuchhardt, CEO of Davert.
Midsona, with sales of €205 million (MSEK 2,173) is leading natural products specialist in the Nordic markets, principally in health foods, personal care and hygiene. Its brands include Urtekram, Friggs, Dalblads, Naturdiet, Kung Markatta, Tri Tolonen, Helios and Miwana.
Main photo: Davert’s stand at Biofach (image: Teamtisher).