Sonae negotiates acquisition of French company

Sonae, through Sparkfood, its subsidiary that invests in companies dedicated to sustainable and healthy food solutions, is in exclusive negotiations to acquire a majority stake in the French company Diorren, valued at 152 million euros.

Sonae informs that its subsidiary Sparkfood has submitted an irrevocable offer and is in exclusive negotiations with the aim of acquiring a stake of around 89% in Diorren, the company that owns BCF Life Sciences ("BCF"), for a total consideration of 152 million euros, on a cash/debt free basis.

Founded in 1986, and based in Britany, France, BCF produces ingredients for the nutrition industry through an innovative production process supported by circular economy principles. BCF transforms food production waste into high value-added ingredients (amino-acids) which are incorporated into pharmaceuticals, human food, and animal feed, as well as into bio-stimulants for sustainable agriculture.