Kerry bulks up plant protein portfolio with Ojah acquisition
Ojah manufactures plant-based proteins to replace meat and fish. It was founded in 2009 by a trio of food engineers-turned-entrepreneurs with the ambition of commercialising a process of ‘texturing’ vegetable proteins by using a clean label High Moisture Extrusion (HME) technology.
Its IP-protected, gluten-free, textured meat alternatives are sold domestically under the brand name Beeter and, for international markets, under the Plenti brand.
In 2012, it won an award for being the most innovative small to medium company in the Netherlands, and by 2017 was producing 1,600 tons of Plenti annually.
Kerry notified the European Commission competition authority of the proposed acquisition on 19 March. The Commission announced yesterday it had been approved.
Examining the case under the EU’s simplified merger review procedure, the Commission said there were no competition concerns to note “given that the joint venture would not have significant activities in the European Economic Area and the limited overlap between the companies' activites”.
According to the Irish Independent, the deal is worth less than €20 million.
Since February last year, Ojah has been owned by Belgian company Korys, the investment vehicle of the Colruyt Group. Colruyt is a Belgian, family-owned retail chain with discount supermarkets in Belgium, Luxembourg and France.
