HOME BRANDS PRIVATE LABEL SEARCH PRESS RELEASE Good Food Group acquires Scandinavia’s largest honey producer Jakobsens The Danish food company Good Food Group has acquired Jakobsens that sells honey and dressings in the Nordic countries. Jakobsens’ products are characterized by innovation, naturalness and high quality. This makes the acquisition a strategically good match for Good Food Group as the company wants to bring natural, Nordic food to consumers in the Nordic region and in the rest of the world. Jakobsens was founded in 1996 by beekeeper Knud Hvam and former retail buyer Jan Jakobsen, and since then the Danish and Nordic consumers have embraced Jakobsens’ products and made the company Scandinavia’s largest honey producer. In recent years, Jakobsens has focused strongly on innovation and has created completely new products in the categories, of which honey could be a natural part. The company has achieved this by introducing honey as a natural ingredient in dressings and by launching a wide range of new products such as liquid, organic and fairtrade honey as well as agave syrup. By acquiring Jakobsens, Good Food Group is now ready to launch Jakobsens’ products worldwide. – I am proud that we in Good Food Group have had the opportunity to acquire Denmark’s strongest honey brand. In recent years, Jakobsens has innovated the honey market by introducing new, exciting products that consumers are looking for, which has made them the market leader in the honey category. Our task is now to develop the business internationally through Good Food Group’s strong sales network and at the same time keep our focus on developing and maintaining a strong position in Denmark. In addition, Jakobsens’ natural products are very compatible with our existing range, says Lillie Li Valeur, CEO of Good Food Group, and continues: – We are very pleased that Jakobsens’ CEO Helle Reinevald and all Jakobsens’ employees will still be part of the company, and we therefore maintain the strong innovative ability and the good relations. Helle Reinevald has been appointed Chief Innovation and E-commerce Officer in Good Food Group, and in the future, our customers and consumers can expect to see an even more exciting range with lots of new, innovative products. CEO Helle Reinevald, who has been the majority shareholder in Jakobsens since 2012, is also pleased with the transaction: – In Jakobsens, we have been on a growth adventure for the past eight years, and now we have reached a stage where we must further develop our export opportunities if we want to continue to grow. To do so, we need an organization with more muscles and more distribution power. By becoming part of Good Food Group, we now have access to more international markets, and I look forward to continuing to develop new and exciting products for consumers in Denmark, Europe and the rest of the world, says Helle Reinevald. In 2019, Good Food Group was acquired by Maj Invest Equity, and at the beginning of 2020, a new management team was formed with Lillie Li Valeur as CEO. The acquisition of Jakobsens is the new management’s first major investment – as part of the company’s new strategy, which seeks to bring natural, Nordic food to consumers in the Nordic region and the rest of the world. For further information, please contact Carsten Gadgaard, Director for Business Development, Good Food Group Mobile: +45 29 33 11 13 E-mail: cag@goodfood.dk About Good Food Group Good Food Group A/S produces a wide range of food products, including jam, sauces, dressings, oats, nuts, frozen fruits, honey as well as seeds and cereal products – both under own brands (including Svansø and Skælskør Frugtplantage) and private label for the retail sector, food service and the industry. Production takes place at a number of production sites in Denmark, Poland, Sweden and Norway, while the products are sold to more than 75 countries, of which Scandinavia still accounts for over 60% of sales. About Jakobsens Jakobsens A/S is Scandinavia’s largest honey producer. They offer a large assortment of conventional, organic and fairtrade honey as well as agave syrup for the retail sector, food service and the industry. In 2019, the company entered two new product categories – sweets and dressings. All products are natural and with no artificial flavouring, colouring, sweeteners and preservatives added. The products are sold primarily in Scandinavia, but in recent years, export sales have started to several European countries as well as China. CONTACT US (+45) 75 71 18 00 Store Grundet Allé 71 7100 Vejle, Denmark goodfood@goodfoodgroup.com