Private equity firm Lion Capital is set to buy Netherlands-based Advang Holding, owner of Mora branded frozen foods.
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Lion said yesterday (17 July) that it would start talks with affected employees immediately and the deal needed to be cleared by competition authorities in the Benelux.
Lyndon Lea, partner of Lion Capital, said: “Lion Capital is delighted to be investing in the market leader in the Benelux meal components category. As with our investments in other market-leading food businesses, we will seek to realise the full potential of this tremendous brand through innovation and investment across the product range and vigorous leadership of the frozen food category in our core markets.”
Headquartered in Tilburg, Ad van Geloven is a producer of frozen meal components with strong market positions in both the foodservice and retail channels across the Benelux. Its branded operations are anchored by flagship brand, Mora, which was acquired from Unilever in 2006.
“We are pleased to be partnering with Lion Capital which brings a unique depth of understanding and experience with investing in branded food businesses as well as the foodservice sector,” said Hans Vermeulen, CEO of Ad van Geloven.
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By GlobalData“We believe that the combination of our strong brand profile together with Lion Capital’s proven track record in working with similar food businesses will enable us to develop our portfolio and reinforce our leading position in our target geographic and product markets.”
