The Bel Group, the dairy multinational behind brands including Babybel and The Laughing Cow, is acquiring French start-up All in Foods as it looks to diversify into plant-based foods.
The acquisition is part of the Group’s strategy to expand beyond cheese products as it looks to become a major player in the health snack player.
The deal grants it access to All in Foods’ vegan dairy brand, Nature & Moi, and positions it to take advantage of growing consumer appetites for high-quality plant-based dairy analogues.
Under the deal, Bel will acquire a majority 80% stake in the start-up, while the founding Jouault family will own the remaining 20% interest.
The acquisition follows hot on the heels of Safilait, a Moroccan dairy producer, and MOM, the maker of the Materne, GoGo squeeZ and Montblanc brands.
Combined, the acquisitions allows Bel to diversify in three complementary food segments: dairy, fruit and plant-based products.
Following the acquisition of All in Foods, Bel said it will offer wholly plant-based alternatives, as well as products that combined both dairy and plant-based raw materials.
“The Bel Group has enhanced its entry into the plant-based era and confirms its strong ambitions,” said Chairman and CEO Antoine Fievet.
He added: “We believe in the excellence and potential that All in Foods has to offer, to meet the challenge for more sustainable food.”