McCain Foods Limited (“McCain”) and TowerBrook Capital Partners L.P. (“TowerBrook”) announced today that they have agreed terms for the sale of a majority stake in Van Geloven B.V. (“Van Geloven”) to McCain. Following completion of the transaction, TowerBrook will remain a shareholder in the business and continue to support Van Geloven in its expansion plans. The transaction will give Van Geloven access to McCain’s extensive network across Europe and will underpin its ambition of creating a leading frozen snacks company in Europe.
Tilburg-based Van Geloven supplies a full range of frozen convenience snacks and foods across a diverse brand family, including the iconic Mora brand – the most popular snacks brand in the Benelux – the artisanal ragout brand “the Bourgondiër”, satay specialist Hebro, foodservice specialty brands Ad van Geloven, van Lieshout & Welten as well as private label contracts with major retail and foodservice customers.
Van Geloven has led the market addressing consumer needs and supporting its clients both on the retail and the out-of-home segments with high quality products, creating innovative new snacks targeting different consumer preferences and preparation methods. Mora has shown 34% growth since 2010 in retail, driven by successful renovations and innovations in appetizers and oven products. In 2015 the company generated sales of €197m.
McCain Foods is a family owned company, an international leader in the frozen food industry and the world’s largest manufacturer of frozen potato products. The company has 41 production facilities on six continents and its products are used in restaurants and sold at retail stores in over 160 countries around the world.
Peter Doodeman, the Chief Executive Officer of Van Geloven;
“We are very excited to partner with McCain, whose global scale and expertise in frozen food will not only help further strengthen our position in the Benelux region but will also accelerate our growth internationally as we continue to develop our European customer base.
“With the backing of McCain and TowerBrook we will continue to grow our business substantially through ongoing product innovation and market expansion.”
Dirk van de Put, the Chief Executive Officer of McCain Foods;
“Whilst Van Geloven will operate as a standalone company within the McCain Group, this acquisition truly complements our strategy for growth within our European markets. Van Geloven’s market leading brands and products offer us a fantastic opportunity to strengthen our overall appetizer and snack food market presence within the region”.