AMSTERDAM, THE NETHERLANDS — Plant-based spreads maker Upfield Group B.V. has agreed to acquire Arivia S.A., manufacturer of plant-based cheeses under the Violife brand, through its Upfield Europe B.V. business. Upon completion of the acquisition, Violife will join Upfield’s brand portfolio, which includes Country Crock, I Can’t Believe It’s Not Butter, Blue Band, Flora, Rama, ProActiv and Becel. Financial terms of the transaction, which is expected to close within three months, were not disclosed.
Founded in 1990 and based in Thessaloniki, Greece, Arivia is a developer of plant-based dairy and dairy-free products made mainly with coconut oil. The company manufactures its more than 500 s.k.u.s at a privately-owned production plant in northern Greece that has a production capacity of 2,500 tons per month. The company’s products are distributed in 50 countries around the world with a total reach of more than 100 million consumers.
“Our entire team is extremely pleased to become part of the Upfield family and pursue our common goals for more sustainable, higher quality and delicious alternatives to dairy products,” said Anthimos Misailidis, chief executive officer of Arivia. “Being firmly committed to growing consumer satisfaction, we are fully convinced that Upfield’s global footprint, combined with Arivia’s unique product offerings, will act as a catalyst toward increased availability of premium, plant-based products across all retail and food service outlets.”
Upfield was created last year when Unilever P.L.C. sold its plant-based Spreads business to investment firm KRR for $8.036 billion. It is the largest producer of plant-based spreads in the world, with more than 60 brands sold in more than 95 countries.
“This acquisition is aligned with our growth strategy and mission to be the global authority in plant-based foods,” said David Haines, c.e.o. of Upfield. “Consumers are increasingly demanding quality, natural and tasty alternatives to dairy products, and welcoming Arivia products into the Upfield family will enable us to go further in meeting those demands, whilst growing our plant-based offering.”