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Nature Bio, subsidiary of LT Foods acquires 30% stake in Leev, Netherlands
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Wednesday, 27 January, 2021, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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LT Foods Limited stated the acquisition of 30 per cent stake in Leev.nu through its fellow subsidiary Nature Bio Foods BV (NBF B.V.), with an option to acquire a further 21 per cent stake at the end of 5 years.
The company has established itself as a responsible and dependable organic product and ingredient supplier across the globe. The company has been providing authentic organic products through its holistic, integrated and sustainable business model that inspires, promotes and supports thousands of organic farmers. The acquisition of a stake is in line with long term growth strategy of the company.
It is a Netherlands based organic specialty food company with a portfolio comprising breakfast bars, healthy snacks, baking range and gluten free, low sugar products that promote an active and healthy lifestyle. Further, it is expanding its product portfolio and venturing into organic wholegrains category such as oats and flax seeds. Its products are available in both retail and online stores.
AndersInvest, a private equity investor, and Did-It, a Company that has immense experience in worldwide trading of organic products, have also taken a stake in the company.
Commenting on the stake sale, Leo Voorwinden, director, Leev.nu,said,"From a strategic point of view, it is critical that we build short supply chains. With NBF BV, a subsidiary of LT Foods coming on board, we can source our raw materials directly from organic farmers in India. Did-It, offers a wealth of experience in worldwide trading of organic products. In addition, AndersInvest gives us the opportunity to grow and build a future organic platform through acquisitions.”
Speaking on the occasion,chairman andmanaging directorLT Foods Limited,Vijay Kumar Arora,said “Strategically, this acquisition gives NBF B.V. a reach to the consumers directly via the mainstream distribution strength of Leev. Currently NBF manages the farm to the doors of EU industries and brands and now would be contributing to the full chain from farm to fork. Leev.nu will now have access to 100 per cent organic products grown by Nature Bio Foods Limited’s network of nearly 60000 plus organic farmers, cultivated in 80000 plus hectares of certified organic land in India. Now consumers of Netherlands will enjoy finest organic Ingredients from India with local distribution in Netherlands. This will further promote the share of India’s organic in EU.”
The company has already set up distribution subsidiaries in USA and Europe. The company is also a preferred ingredient supplier to retail giants such as Walmart, Carrefour and many more. As consumers globally gravitate towards food choices that are safe, environment friendly and healthy, the company is aggressively eyeing to expand its branded organic ingredient and super food product portfolio in Europe.
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