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India based consumer food company, LT Foods has said, “It has acquired 30% stake in the Netherlands based organic speciality food company Leev.nu.”
LT Foods in its press release said, “Nature Bio Foods BV, a subsidiary of LT Foods has acquired 30% stake in Leev.nu, with an option to acquire a future 21% stake at the end of five years.”
Speaking on the development, Vijay Kumar Arora, Chairman & Managing Director of LT Foods said, “Leev.nu will now have access to 100% organic products grown by Nature Bio Foods Limiteds network of nearly 60,000 plus organic farmers, cultivated in 80,000 plus hectares of certified organic land in India.”
“This will further promote the share of India’s organic in the EU,” he added.
Commenting on the acquisition, Leev.nu Director, Leo Voor Winder said, “From a strategic point of view it is critical that we build short supply chains with NBF BV, a subsidiary of LT Foods coming on board. We can source our raw materials directly from organic farmers in India.”
“Further, expanding the product portfolio and venturing into organic whole grain categories such as oats and flex seeds and its products are available in both retail and online stores,” he said.