Associated British Food plans further acquisitions following its purchase of speciality food company G Costa last week.
Blue Dragon brand owner G Costa was bought for an undisclosed sum.
MD Tim Barlow said the business, which reported annual sales in 2002 of £51.8m, would be run as a standalone unit.
Management previously had a 65% stake in G Costa and the rest of the business was owned by venture capitalist 3i, he said.
The plan going forward was to develop the Blue Dragon brand and G Costa’s agency business, which already operated in 50 markets worldwide, he said. The company already manages brands including Tabasco, Maille and French’s.
Barlow will now report to John Sutcliffe, chief executive of ABF’s grocery division.
Meanwhile, ABF, which owns Westmill Foods and brands including Ryvita, Twinings and Ovaltine, said the acquisition created synergies in purchasing and distribution. G Costa already had such agreements with ABF in areas such as Scandinavia.
An ABF spokesman said it would continue to build strong positions in world markets. He said: “Branded grocery has become an increasingly important part of our portfolio.”
Blue Dragon brand owner G Costa was bought for an undisclosed sum.
MD Tim Barlow said the business, which reported annual sales in 2002 of £51.8m, would be run as a standalone unit.
Management previously had a 65% stake in G Costa and the rest of the business was owned by venture capitalist 3i, he said.
The plan going forward was to develop the Blue Dragon brand and G Costa’s agency business, which already operated in 50 markets worldwide, he said. The company already manages brands including Tabasco, Maille and French’s.
Barlow will now report to John Sutcliffe, chief executive of ABF’s grocery division.
Meanwhile, ABF, which owns Westmill Foods and brands including Ryvita, Twinings and Ovaltine, said the acquisition created synergies in purchasing and distribution. G Costa already had such agreements with ABF in areas such as Scandinavia.
An ABF spokesman said it would continue to build strong positions in world markets. He said: “Branded grocery has become an increasingly important part of our portfolio.”
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