Oslo / NO. (ok) Through its wholly-owned Dutch subsidiary Sonneveld Group B.V. Norway’s Orkla Food Ingredients has signed and completed an agreement to purchase the Dutch company Vamo produkten voor de Bakkerij B.V. (Vamo).
Vamo manufactures specialised concentrates and ingredient mixes for sale to manufacturers of artisan and industrial bakery products. The company also holds a leading position in the Benelux in special ingredients for corn-based products, a segment that has seen good growth in Europe for several years.
Orkla Food Ingredients is strongly positioned as a supplier of bakery ingredients and ice cream accessories in the Nordic region and selected countries in Europe. In the Netherlands, Orkla Food Ingredients has built up a solid position through its subsidiaries Sonneveld, NIC, Broer and Laan.
«Vamo is a well-run company with a good customer base and a product portfolio that is a good fit with Sonneveld. The acquisition of Vamo will complement Sonneveld’s position as a supplier of ingredients and accessories to the bakery market,» says Peter Verhagen, CEO of Sonneveld.
Vamo was established in 1963 and has 20 employees. The company’s headquarters and production facilities are located in Duiven, the Netherlands. Vamo is currently owned by two private shareholders who jointly head the company. The owners also hold a 20 per cent stake in the company Quattro Enzymes Solutions, in which Sonneveld owns a 60 per cent interest.
The company is achieving good growth and had a turnover of EUR 12.4 million (approximately NOK 120 million) in 2018 and Ebit of EUR 1.6 million (approximately NOK 15 million). The company will be consolidated into Orkla’s financial statements as of 1 September 2019.