Portuguese conglomerate Sonae has this week acquired Claybell Limited, owner of Gosh Food, known in the UK for its range of vegan sausages, burgers and falafels. The deal is reported to have taken place for around £64 million via Sonae Food4Future.
According to Foodbev News, Gosh recorded a normalised turnover of £22 million for the year ending in May 2021 and the company will continue to be managed by the current team, who will hold the remaining 4.6% minority stake. Sonae states that the acquisition is in line with its active portfolio management strategy.
The take-over was rumoured this July with estimates of £50 million and the deal has been finalised for a substantially larger sum as demand for plant-based products continues to skyrocket in the UK. The company invested £4.5M last August for a new 17,000 square foot factory to keep up with demand.