GoodLife Foods boosts growth ambitions with two acquisitions

With two strategically important acquisitions, GoodLife Foods is doubling its size. “We are aligning our offering with changing demand”, CEO Dirk Van de Walle says.

Ambitious growth plan

In the past two months, GoodLife Foods announced two major acquisitions: Spanish producer Audens Group Solutions in June and Pure Ingredients last week. Both acquisitions are part of an ambitious growth plan, the CEO told RetailDetail. With owner IK Partners, which acquired the company from Egeria Capital in July 2023, GoodLife Foods aims to tap into new geographies and complementary product categories.

There are still many smaller, regional players in the European frozen snack market, but that does not necessarily mean that a major wave of consolidation has to take place, Van de Walle explains: “It is a large, diverse market in which there is room for many companies. We have done our homework and identified interesting potential partners. I am very happy that we have already been able to convince two of them of the potential to build business together. We are going to exploit that potential in the coming years. There is a lot of work to be done.”

Strategic importance

“With Audens Group, we acquire a strong position in Southern Europe, a very important market for frozen snacks. It is one of the biggest players there, with 800 employees and five production sites in Spain and Portugal. Audens will be an independent business unit within the group, it is a strong company that we have great respect for.” Significantly, CEO David Sala Coll will become a non-executive director at GoodLife Foods, while remaining active as a strategic adviser to Audens.

The acquisition of Pure Ingredients, a German manufacturer of halal frozen foods, is also a strategically important acquisition: “Ethnic food is growing. We were already active in that segment, but we were looking for a credible partner to take a big step. Pure Ingredients produces completely halal in three production facilities in the Netherlands and Germany. Owner Wout van Eeuwijk had no successor; we came at the right time.”

Complementary products

Van de Walle has led GoodLife Foods since 2019 and is a shareholder himself. He already has integrated seven different companies into one solid group with customers in foodservice and retail. Consumers demand innovation and variety, he knows: “The products and brands in our portfolio are all complementary. We take a leading role being innovative, fast and qualitative. We are also leading the way in the protein shift: historically we have grown from Beckers, producer of meat snacks, but pure meat snacks today represent only 30 % of our range. We are aligning our offering with changing demand.”

The group’s growth trajectory is remarkable: “We now have fourteen plants and almost 2,000 employees in Europe. We produce about 160 million kilograms of snacks and meal components every year. It is great to build such a company, with a fantastic team. I am experiencing the most exciting years of my career here.”