Germany-based Katjes Greenfood acquired the British free-from baked goods company Genius Foods Limited from Edinburgh. Founded in 2009, Genius Foods recorded EUR 40 million in sales last year and produces rolls, breads, bagels, wraps and more. It is one of the market leaders in the UK and France, and is increasingly represented in the USA, Australia and Germany.
The gluten-free market is currently growing at double-digit rates. “This makes gluten-free an ideal category for Katjes Greenfood, which, as a legally independent part of the Katjes Group, is investing in the future of nutrition outside of confectionery,” explained Tobias Bachmüller, Managing Partner of Katjes Greenfood. Although the value of the transaction remains undisclosed, this is the company’s largest acquisition to date.
Bachmüller commented: “The chance to acquire the market leader in a future category is a unique opportunity for us!”
Genius’ CEO, Dr. Peter Quinn, also said in a statement: “We believe that in Katjes Greenfood we have found a strong investor who can not only develop major market and brand potential in the short term, but also shares the long-term and sustainable values of a family business.”
Photos: Genius Foods, Katjes Greenfood