A French consortium has made an offer for Dutch natural foods company Wessanen, the Amsterdam-listed company said on Thursday evening.
The consortium, managed by PAI Partners SAS, has offered €11.50 per share for all Wessanen’s shares – a revised offer from one first made in February, the Wessanen statement said.
‘After careful review and consideration’ Wessanen’s two boards have ‘concluded that this proposal warranted engaging with the consortium to explore the feasibility and merits of the potential transaction’.
However, there can be no assurance any transaction will materialise from these discussions, Wessanen said.
PAI Partners is working together with American investor Charlie Jobson, who has been a shareholder in Wessanen since 2009 and currently has a stake of nearly 26%.
Wessanen, which focuses on organic and whole foods and includes Whole Earth and Zonnatura among its brands, booked sales of €628m last year, a rise of 0.6% on 2017.
News of the takeover bid boosted Wessanen shares in Amsterdam on Friday. They rose 18% tot €11.71 in early trading.
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