Sonae acquires Gosh! Food owner for around £64m

Sonae Food4Future, a subsidiary of Portugal-based Sonae, has acquired 95.4% of the share capital of Gosh! Food owner Claybell for around £64 million.

UK-based Gosh! Food offers a range of vegan and free-from products, including bites, sausages and burgers, both through the Gosh! brand and as a private label partner to customers in the retail and foodservice channels.

The company recorded a normalised turnover of £22 million for its fiscal year ending in May 2021.

Following the acquisition, Gosh! will continue to be managed by the current team, who will hold the remaining 4.6% minority stake in the company’s share capital.

The deal is said to align with Sonae’s strategic focus on innovative companies operating in growth sectors around its core business.

Sonae’s investment in the ‘high-potential’ natural and plant-based food industry also supports its aim to expand its international footprint. Meanwhile, the Portuguese firm expects Gosh! to benefit from its food and retail sector knowledge.