EU/NETHERLANDS: Brussels clears new majority owner of snacks firm Ad van Geloven
Dutch snacks firm Ad van Geloven is set for a new majority shareholder after The European Commission cleared a move from private-equity firm Avedon Capital Partners to buy a controlling stake in the firm.
Brussels said today (4 June) it had approved a deal that will see Ad van Geloven's current owner, UK-based private-equity firm Lion Capital, offload the bulk of the business to Avedon Capital Partners.
Lion Capital will retain a stake Ad van Geloven, which sells frozen branded and own-label snacks in the Netherlands. The private-equity firm first invested in Ad van Geloven, which generated sales of EUR179m (US$234m) last year, in 2008.
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