Sentica's Func Foods buys CocoVi

The acquisition extends Func Food's consumer and trade product range. The combined entity has a €30m target turnover for 2014. 

Jani Uusi-Ristaniemi, CocoVi founder and CEO, retains a minority stake in the combined business, and assumes the role of development director.

Previous funding
In January 2014, Sentica bought a majority stake in Func Food. The GP planned to grow the firm's product base and distribution channels, as well as boost its export markets. Bolt-on acquisitions were also included in the growth strategy.

At the time of the buyout, Func Food reported a €17m turnover with headcount of 19.

Company
Founded in 2007 and based in Helsinki, CocoVi is a health food company focused on superfoods such as coconut oil, goji berries, spirulina and raw chocolate. CocoVi's products are free from gluten, additives and milk and most are certified organic.

The company expects to report revenues of €7m this year.

People
Mika Uotila is CEO of Sentica.

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• Topics
• Nordics
• Consumer
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• Finland
• Sentica Partners