Swiss food firm Hero Group has reached an agreement with Italian gluten-free producer Dr. Schär for the sale of the Semper Gluten-Free business in the Nordics.
This divestiture will allow Hero Group to focus on its three core categories: baby and toddler food/snacks, healthy snacks, and natural spreads, the company noted.
Dr. Schär will take over the entire gluten-free product portfolio, including the traditional Swedish crispbread, an iconic product of the Nordic countries.
The deal will allow the business to grow with Dr. Schär, which produces gluten-free nutrition and food for people with special nutritional needs. It will help Dr. Schär consolidate its leadership in the gluten-free category in the region.
Both Hero Group and Dr. Schär are family-owned businesses sharing similar corporate values, making Dr. Schär an ideal fit for continuing the success of the gluten-free business of Semper.
The Deal
The acquisition includes the crispbread facility in Korsnäs, Sweden, and the transfer of personnel dedicated to the business in Sweden.
Founded in 1939 and part of Hero Group since 2006, Semper offers leading brands within baby and toddler food, milk, gluten-free, and healthy snacks categories in the Nordics.
It has around 300 employees in Sweden, Finland, Norway, and Denmark, with net sales of around SEK 1.5 billion (€126.2 million).
The transaction, whose financial details were not disclosed, is expected to close on 31 December 2023, subject to the completion of union negotiations and formal transaction procedures.
Hero Group was supported in the transaction by Eversheds Sutherland, MCF Corporate Finance, and Ernst & Young (EY).
Last year, Hero Group sold its UK-based gluten-free business, Juvela, to investment firm S-Ventures.
