Salad producer Florette has acquired beetroot supplier Axgro Foods in a bid to expand its product range.
Axgro produces cooked, pickled and flavoured beetroot products under its The Lincolnshire Beetroot Company brand and private label for supermarkets in the UK.
It will continue to operate from its current Lincolnshire location, with Florette planning to develop and invest in the business, which increased revenues 10% to £almost £14m in the year ended 31 August 2015.
“The acquisition of Axgro Foods is part of our long-term strategy to diversify our product portfolio and provide our customers with even more variety,” Florette UK MD Doug Robertson said.
“Florette is no stranger to beetroot; it’s a key component in our popular Superfood salad and we understand its multiple nutritional benefits and appeal to the health-conscious consumer.”
Florette launched its Superfood Salad bag in June last year, with sales hitting £2m in its first 12 months.
The business is seeking to return its turnover to growth after the top line fell 5.2% in 2014 to £53.2m, according to the latest available accounts for UK & Ireland Ltd. Results for 2015 have yet to be filed at Companies House.
Robertson added: “Axgro Foods is a grower-based farmer group that shares similar business values to Florette UK & Ireland, therefore we are confident this new acquisition will be a good addition to the portfolio.”
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