Germany’s Frostkrone Food Group, a manufacturer of frozen products and snacks, has acquired Innovate Foods based in Scotland.
Frostkrone, located in the city of Rietberg in North Rhine-Westphalia state, said the deal expands its international footprint having made a number of other recent acquisitions – Piz’wich and Varenne Gastronomie in France, as well as Rite Stuff Foods in the US.
The purchase price for family-owned Innovate Foods, which produces a range of frozen finger foods such as halloumi fries, fishcakes, vegetable burgers and cheese bites for the retail and foodservice channels, was not disclosed.
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By GlobalDataFrédéric Dervieux, the chief executive of Frostkrone, said: “The acquisition of Innovate Foods means that we now have direct links to a location in Great Britain. And with a view to the economic changes that Britain’s exit from the EU will bring about, this merger will give our local customers there and, of course, will give us, too, the safeguards and the flexibility so necessary and so desired by all concerned.”
Frostkrone supplies markets in Europe, including Switzerland, the Netherlands, Scandinavia, France, Spain, and Portugal, along with eastern European countries, the US and Asia.
“We view the merger with the Frostkrone Food Group as a very good development. Together we will be steering the company successfully into the future,” said Innovate Foods managing director Tony Dumbreck, who will remain in the role and hold a similar position within its new owner.
