TowerBrook Capital Partners L.P., New York, announced the sale of a majority stake in Van Geloven B.V., The Netherlands, to McCain Foods Ltd., Canada.
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.
Van Geloven supplies a full range of frozen convenience snacks and foods across a diverse brand family, including the Mora, Bourgondiër, Hebro, foodservice specialty brands Ad van Geloven, van Lieshout & Welten and private label contracts with major retail and foodservice customers.
McCain Foods is an international manufacturer of frozen potato products used in restaurants and sold at retail stores in over 160 countries around the world.
“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,” says Peter Doodeman, chief executive officer of Van Geloven. “With the backing of McCain and TowerBrook, we will continue to grow our business substantially through ongoing product innovation and market expansion.”
“Whilst Van Geloven will operate as a stand-alone company within the McCain Group, this acquisition truly complements our strategy for growth within our European markets,” adds Dirk van de Put, chief executive officer of McCain Foods. “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.”