SARIA acquires Devro for £540m
German food manufacturer SARIA has acquired Scottish sausage casing producer Devro plc (Devro) for £540 million.
Devro is one of the leading global suppliers of collagen-based edible films and coatings. With over 85 years’ experience in collagen casings, its products are used globally in the production of a wide variety of meat products, particularly sausages. Devro has a global footprint employing nearly 2,000 people, with seven main production facilities in Australia, China, the Netherlands, the Czech Republic, Scotland and the United States.
The SARIA group specialises in products for human consumption, animal nutrition, aquaculture, agriculture and pharmaceutical and industrial applications. It also produces biofuels and renewable energy and provides services to the agricultural sector and the food industry.
Commenting on the acquisition, Steve Good, chairman of Devro, said: “Under the ownership of SARIA, the combined business will have an enhanced product offering; will be a stronger more diversified group of scale; and will look to further accelerate long-term sustainable growth.
“We believe that SARIA’s understanding of our markets, its strong financial position and the cultural fit will benefit the Group’s business and employees. As a result, the Devro directors have agreed unanimously to recommend that Devro’s shareholders accept the offer from SARIA.”
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