Obela, the sauce company jointly owned by Pepsi and Strauss Group, is selling the namesake Florentin Organic Kitchen brand to German firm Kaja Food.
The deal, reached for an undisclosed sum, comes as Obela looks to focus on fewer markets, the company said. just food.
“We can confirm that [the] Obela’s shareholders have decided to close their operations in Europe at the end of the month…focusing investments on growth markets, which today include Mexico, Australia and New Zealand,” said Christian Exner Arizaga, director of marketing and business development at the European division of Obela. “Florentin’s business will be sold to give it the attention it deserves to grow and flourish.”
Florentin is a Dutch manufacturer of organic hummus, falafel, pita bread, dips, and other Middle Eastern products. The firm’s main markets are the Netherlands, Germany and France.
Obela acquired Florentin in 2016 and paid 9 million euros (9.5 million US dollars), plus an additional 1.8 million euros, depending on performance.
Kaja Food is a German company focused on healthy and “functional” eating. It has two factories spread over 13,000 m2, one in Kempen, Germany, which produces dry mixes and snacks, and another in Mijdrecht, the Netherlands, which produces spreads and salads.
PepsiCo and Strauss have two companies. Obela, formed in 2011, focuses on Central America, Europe, Australia and New Zealand. Sabra, created four years later, sells in the US.