Enrico-Glasbest acquires Bertolli from Unilever
2021 was off to a fantastic start for Enrico-Glasbest
On the 4th of January 2021, Enrico-Glasbest will take over Bertolli from Unilever. The acquisition concerns, amongst other trade mark rights under the Bertolli licence, the European pasta sauces, pesto and Mayonnaise activities. Unilever has previously sold the olive oil and Margarines activities of Bertolli to respectively Deoleo (2008) and KKR / Upfield (2018). The Bertolli brand, as well as the activities in the United States, are owned by the Japanese Mizkan Group since 2014.
Bild von Lyubov Kardakova auf Pixabay
Aleks Fiege and Jet van Koten, both closely involved with Bertolli in the past as managers at Unilever, have initiated this acquisition. They partnered up with Enrico-Glasbest, as trading company and producer an important player in the sales and distribution of Mediterranean food in the Benelux.”Bertolli is an iconic brand with a history of over 150 years.’ according to Fiege and Van Koten, ‘We see an enormous potential. With more attention for, and increased investments in quality, innovation and marketing, more value will be created. In Enrico-Glasbest we have found an ideal home to bring this wonderful brand to bloom again.”
Robin Heetkamp, Managing Director of Enrico-Glasbest states: “As a brand, Bertolli fits in seamlessly with the strategy and ambitions of Enrico-Glasbest: the company has shown significant growth in recent years and is ready for this step forward. Entrepreneurship is present at all levels in the organisation and the infrastructure is ready to scale up further.”
After the takeover, the group’s turnover adds up to ca. €50m. No staff will transfer following the transaction, and no production locations will be taken over. The production of Bertolli products will continue to take place at current producers. The acquisition is financed by Victus Participations, management, and Rabobank. Squarefield has advised Enrico-Glasbest in the acquisition process and financing.
After the acquisition, Enrico-Glasbest’s management team consists of Robin Heetkamp (Managing Director), Andrea Groot Wassink (Financial Director), Jet van Koten (Commercial Director), Aleks Fiege (Director Marketing & NPD), Peter Boer (Director Sales & Export), and Frank van Mansum (Director Sourcing & Purchasing). To enable smooth integration, a transition period of 6 months has been agreed, during which Unilever will continue to handle sales and operations for Bertolli.
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