Bel España, a subsidiary of Paris-based Fromageries Bel, has entered into an agreement to acquire the Tranchettes cheese slices brand from Quesería Menorquina of Spain for an undisclosed amount.
The move will allow the company to add Tranchettes to its Spanish brand portfolio and strengthen its position in the country's processed cheese market.
Bel España general manager Nicolas Barral said: "With the addition of 'Tranchettes', we will consolidate our position in Spain and broaden the range of processed cheese products that we offer our customers."
Both companies have also signed a supply agreement, under which Quesería Menorquina will continue to manufacture processed cheese slices at its facility in Mahón, Minorca, Spain.
The transaction, which is subject to approval by Quesería Menorquina shareholders, will enable the company to boost production at its Mahón plant and focus on manufacturing processed cheese for third parties.
Bel is a leading manufacturer of processed-cheese in Spain under The Laughing Cow brand; however, it is currently not involved in the slices segment.
With this deal, Bel will be able to enter into the slices segment, which represents 60% of the processed cheese market in the country.
Bel España has more than 120 employees across its offices in Madrid and a production plant in Ulzama, Navarre, where The Laughing Cow brand products are manufactured.
In 2012, the company posted a significant increase in Spanish sales volumes, compared to the previous year, despite a decline in consumer spending.
Fromageries Bel specialises in the production of processed and semi-processed cheeses under The Laughing Cow, Babybel, Kiri, Leerdammer and Boursin brands, and its products are distributed and sold in more than 120 countries across the world.
