Case study Van Geloven

The company

Van Geloven is an established manufacturer of branded and private label frozen convenience foods and snacks with significant market share in Dutch and Belgian retail markets.

Why we invested

  • Strong market position in an attractive and resilient food segment
  • Scope for further operational improvement
  • New management team with extensive F&B experience and clear growth strategy
  • Opportunity for international expansion
Year of investment

2015

Sales (LTM to March 31, 2016)

€198.7m

Status

Partial exit ¹, 2016 1. TowerBrook retains a minority stake in Van Geloven

Building a better business

At the time of its acquisition by TowerBrook, Van Geloven was at an inflection point. Its new management team was seeking to secure further growth via geographic expansion, add-on acquisitions and the development of operational and manufacturing excellence.

In particular, an ambitious and innovative Corporate Sustainability Program had been drawn up. TowerBrook supported Van Geloven’s management to pursue this program, which focused on three areas: sustainable production, transparency with both customers and the media and the quality, auditing and traceability of raw materials.

New, low-fat and vegetarian recipes were designed to capture a greater share of a market increasingly keen to eat healthier food. Initiatives included oven-prepared rather than deep-fried products and the introduction of a range of vegetable-based snacks. A salt reduction policy was applied to snacks and spring rolls, and artificial additives such as MSG and E621 were eliminated.

Van Geloven’s strategy to develop healthier products, together with its strong market position and increased profitability, proved attractive to McCain, which purchased a majority stake in the business in 2016.

Van Geloven’s core values are focused on upholding its responsibility to people, society and the environment.

Van Geloven’s brand portfolio includes the iconic Mora – the most popular snack brand in the Benelux countries – artisanal croquette brand De Bourgondiër, and satay and spring roll specialist Hebro.