Dive Brief:
Whole Earth Brands is buying Wholesome Sweeteners, the top organic sweetener brand in North America, for $180 million, the company said in a statement. Wholesome, which holds a 76% share in the organic granulated sugar segment of the organic and natural channel, is eligible to receive up to $55 million of additional payment through the end of calendar year 2021.
Whole Earth, a flavor and ingredients company, said the purchase would expand its presence in the organic sugar market, increase its scale in natural offerings and boost its cash flow. The transaction is expected to close during the company’s first quarter of 2021.