Elsa Group, a member of the Swiss retail co-op Migros Group, has strategically divested its Dutch tofu operation, SoFine, to The New Originals Company (NOC), a prominent player in the European plant-based sector.
While the financial details of the transaction remain undisclosed, this acquisition marks an important step for both companies.
Established in 1963 in Landgraaf, Netherlands, SoFine specializes in tofu production and meat substitutes. The acquisition will see NOC take control of both the SoFine and ProLaterre brands, along with a dedicated production facility in Landgraaf.
SoFine and ProLaterre products are currently available across multiple markets, including the Netherlands, Belgium, Germany, Switzerland, and Finland, as stated by NOC.
This acquisition allows NOC to enhance its product lineup, particularly in convenient tofu offerings such as tofu strips, mince, cubes, and water-packed tofu.
Matthias Krön, CEO of NOC, stated: “With SoFine, we are expanding our portfolio to include established and popular plant-based products, particularly in the convenience segment, and are developing the entire category in a targeted and innovative way.”
In 2024, Migros announced its intention to focus on its “core business” areas: retail, financial services, and healthcare.
Importantly, the group confirmed there will be no job losses stemming from this transaction; nearly 100 SoFine employees are set to join NOC.
Elsa Group CEO Matthew Robin remarked, “SoFine and the New Originals Company are a perfect match. This sale provides SoFine with specialized support that will reinforce its future success.”
In October, NOC successfully acquired a manufacturing facility in Germany from the UK’s Vegan Food Group (VFG).