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Tree of Life Sold for 190 MillionTree of Life Sold for 190 Million

December 23, 2009

1 Min Read
Tree of Life Sold for 190 Million

ULTRECHT, THE NETHERLANDS--Royal Wessanen nv announced today that it has agreed to sell Tree of Life and all but one of its subsidiaries to Kehe Food Distributors for US$190 million. The management of Tree of Life is expected to stay, and Tree CEO Richard Lane stepped down as an executive board member at Wessanen.

Kehe Food Distributors is an employee-owned company that distributes more than 40,000 products to more than 15,000 retail stores.

Kehe believes in identifying and filling the product and service needs of retail partners. The combined company will be better suited than ever to fulfill this vision, for retail partners ranging from the smallest independent grocer or natural food store to the largest national chain, said Brandon Barnholt, President and CEO, Kehe Food Distributors, Inc.

According to the Wessanen press release, Tree of Life had revenues of US$1.162 billion for the last four quarters to September 2009 and EBIT of US$12 million for the period. Wessanen will convene a meeting of shareholders on Jan. 13, 2010, to obtain approval of the sale.

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