In a strategic move within the snack industry, Italian rice and pulses giant Euricom has successfully acquired the Polish snacks company Sonko for an undisclosed amount.
Euricom, based in Italy, has taken over the entire share capital of Sonko, which is located in Wrocław, Poland. Previously, Sonko was a subsidiary of functional sports beverage producer Oshee Polska.
The acquisition aligns with Euricom’s future goals, as the company plans to significantly invest in Sonko’s facilities and brand. This investment aims to enhance Sonko’s already leading snacks product line, demonstrating Euricom’s commitment to innovation within the sector.
With healthy snacks identified as a critical category for pan-European expansion, Euricom sees this acquisition as synergistic with its existing rice business. The combination of rice and snacks presents a unique opportunity for growth and market diversification.
Established in 1989, the Sonko brand has become a staple in the Polish market. Its diverse product portfolio includes healthy snack options such as rice cakes, chickpea chips, chocolate crispbreads, as well as a selection of rices and groats.
Bruno Sempio, chairman of Euricom, stated: “Through our longstanding relationship with Sonko, we have witnessed how the firm has developed the leading brand in the market through an attractive product offering centered around snacks.” This statement reflects the deep-rooted connection between the two companies and highlights the potential for further development.
“We welcome the Sonko team and look forward to continuing this effort further with the full support of the Euricom group. This synergistic transaction will help us achieve our target revenues of €1bn ($1.1bn) in the near term,” Sempio commented, illustrating the ambitious financial trajectory the company envisions.
Currently, Sonko employs approximately 300 individuals across its two manufacturing facilities and has developed its own nationwide sales and distribution network.
Dariusz Gałęzewski, chairman of Oshee Polska, remarked, “During the five years that Sonko was part of the Oshee Group, we successfully accomplished most of our objectives. Even during the challenging period of Covid-19, Sonko and its key products demonstrated their resilience.” This reflects not only on Sonko’s capability to adapt but also on its significant role within the group.
Furthermore, Gałęzewski added, “Oshee is now focusing on its core beverage business and is planning an acquisition in Western Europe to strengthen its position and drive expansion there.” This indicates a strategic pivot towards consolidating and enhancing Oshee’s market position in a competitive landscape.
It is noteworthy that last year, the Japanese conglomerate Mitsui Co. acquired a stake in Euricom for approximately Y200bn ($143.3m), a move that has enhanced Euricom’s enterprise value to €500m.
