Dutch Market Food Group (MFG), producer of artisan bread and pastries, has agreed to sell a non-controlling interest of its business to investment group Van Lanschot Participaties.
This is subject to the approval of the Netherlands Authority for Consumers and Markets (ACM).
MFG, based in Bunschoten-Spakenburg in the Netherlands, was largely management-owned prior to the transaction, which will expand its shareholder base and add a shareholder “supportive” of the company’s further growth.
The company owns a range of brand franchises including ‘t Stoepje and Le Perron, the latter of which is an award-winning organics and sustainable franchise formula, currently with 60 sales outlets around the country. ‘t Stoepie is a well-known brand in Holland and has grown to 130 franchisees in more than 600 locations.
MFG sells artisan, health, sustainable and sugar-free products to both wholesale and retail customers, and is in the process of developing new products such as gluten-free, low car and cholesterol-lowering bread. The company generated sales of around EUR105m (US$116.2m) last year.
Financial details of the transaction were not disclosed.