As part of its strategy to become a global benchmark in premium food, Ebro Foods, S.A. has purchased from Hain Celestial 100% of the companies and assets through which the global Tilda business is conducted.
Tilda is a premium rice brand of international repute, primarily in basmati rice. It is present in several countries on the five continents, with particular renown and importance in the UK market.
It has two plants in Rainham (UK) and a workforce of 326 employees. Its net sales in the past year, up to June 2019, totalled GBP 152.6 million, 60% of which were in the UK and 92% corresponded to basmati.
For the purpose of this transaction, Tilda has been appraised at USD 342 million (value 100% company, i.e. before any adjustments for debt and working capital).
Through this acquisition, Ebro not only enhance its portfolio of global premium brands in the rice sector, but also acquires a strong foothold in the British market, where it has to date had only a token presence. In addition, Ebro believes that Tilda’s international nature will pave the way for extensive development with other Group products.