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WATERCRESS and salad producer Vitacress has been acquired by Portuguese conglomerate RAR Group in a deal worth £50million.

Headquartered in St Mary Bourne, Vitacress is Europe's largest supplier of watercress and is one of the leading growers and marketers of salads in the UK and Portugal.

Farming about 1,200 hectares in England, Portugal and Spain, the company has a strong presence in the bagged salads market, with special emphasis in the baby leaf segment, reporting a turnover of £81million last year.

Vitacress chief executive officer Nick Stenning will continue to lead a strong management team, focusing on the consolidation and expansion of this business.

Upbeat about the deal, Mr Stenning said: "The strategy that we have been told by the RAR Group is that they will very much keep Vitacress as it is.

"The reason for RAR Group buying Vitacress is because we are a strong company and they like to support strong companies. They will be looking to help the company build and develop into the future."

Employing about 1,000 people - 650 in Hampshire, Dorset and Wiltshire - Mr Stenning said he does not anticipate that there will be any reduction in the workforce following the sale, which is still subject to the approval of the Portuguese Competition Commission.

Last year, RAR Group purchased Wight Salads Group, a leader in the production and sale of tomatoes in the UK.

12:07pm Sunday 17th August 2008

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