Upfield Group B.V. Acquires Arivia
Upfield Group B.V., the global leader of plant-based butter and spreads has announced that one of its group companies, Upfield Europe B.V. has entered into a share purchase agreement with Arivia S.A. Arivia is a leader in the plant-based cheese category and owner of brand VIOLIFE.
This strategic acquisition will enable Upfield to enter a new segment, presenting an additional growth opportunity for the company. VIOLIFE will become part of the iconic Upfield brand family, that includes household names such as Flora, Rama, Country Crock, Blue Brand and Proactiv.
The plant-based cheese market is growing at an increasing pace and on a global scale. VIOLIFE is already the number one plant-based cheese brand in the United Kingdom and Arivia has also built a strong and fast-growing presence in the United States.
The combination of Arivia’s brand and product proposition, and Upfield’s brand-marketing expertise, infrastructure and worldwide distribution network – including in the foodservice channel – will create a unique opportunity to accelerate the growth of the plant-based cheese segment globally. Arivia is headquartered in Thessaloniki, Greece with a factory located in the north-east of the country.
Commenting on the transaction, David Haines, CEO of Upfield Group B.V. said: “This acquisition is aligned with our growth strategy and mission to be the global authority in plant-based foods. Consumers are increasingly demanding quality, natural and tasty alternatives to dairy products, and welcoming Arivia products into the Upfield family, will enable us to go further in meeting those demands, whilst growing our plant-based offering.”
Koutalidis Law Office acted as legal advisers to Arivia, with Partner Katia Protopapa and Senior Associate Yiannis Loizos leading the transaction.