McCain Foods and Towerbrook Capital Partners have signed a deal regarding a majority stake in frozen food manufacturer Van Geloven. Towerbrook will continue to be a shareholder and will continue to support the company's expansion plans.
“Addition to strategy”
Van Geloven manufactures several well-known frozen food brands, like Mora, Hebro and De Bourgondiër, alongside several private labels for customers in retail and the food service. Its 2015 turnover reached 197 million euro.
“We love the idea of working with McCain, as its worldwide scale and frozen food expertise will strengthen our position in the Benelux area. It will also enhance our international growth into a European platform. Backed by McCain and Towerbrook, we will be able to substantially grow our business, thanks to continuous product innovation and market expansion", Van Geloven CEO, Peter Doodeman, said.
“Even though Van Geloven will maintain his independent position, even within McCain Group, the acquisition is an addition to our European growth strategy. Van Geloven's leading brands and products offer an excellent opportunity to strengthen our overall market position in the European appetizer and snacks market", McCain CEO, Dirk van de Put, added.