Hero Group sells UK gluten free company
- Juvela business joins S-Ventures plc
- Divestment part of Group’s long-term strategy to focus on core categories
Lenzburg, December 15, 2022 – The Hero Group, which has a mission to delight consumers by conserving the goodness of nature, today announces the sale of Juvela, its gluten free business in the UK.
Hero Group CEO Rob Versloot says: “We are very pleased to have found an ideal home where Juvela can grow to its full potential alongside other similar companies. The divestment is part of our company's long-term strategy and supports the Hero Group's focus on its core categories of Baby & Toddler Food and Snacks, Healthy Snacks, and Natural Spreads to provide consumers with goodness of nature products."
Scott Livingston, the Founder and CEO of S-Ventures comments: "We are delighted to partner with the Hero Group and to add the Juvela business to our platform. We are excited about the opportunity this acquisition brings to drive substantial growth and value for all our shareholders.”
The acquisition includes the Juvela bakery in Pontypool. Wales.
The Hero Group was supported in this transaction by exclusive financial advisor Alantra and law firm Pinsent Masons, while S-Ventures plc was represented by law firm Farrer & Co.
About Hero Group
The Hero Group is an international food company focused on branded nutritional food products. The company was founded in 1886 in Lenzburg, Switzerland, where its headquarters are still located today. Hero's main product categories of Baby & Toddler Food and Snacks, Natural Spreads, and Healthy Snacks, are complemented by its activities in infant milk, Gluten Free and Specialties. The Group, which lives by its mission to delight consumers by conserving the goodness of nature, boasts a global footprint and its portfolio consists of many well-known international and local brands. In 2021, the Group generated revenues of CHF 1.14 billion.
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