Sports-nutrition group Prinsen Berning has secured a “long-term” financing agreement with Eurazeo, a European investment group.
Financial details were not disclosed.
The business said that Bencis Capital Partners, a Dutch investment firm, will remain as the major shareholder “holding a vast majority of share”, with the remainder split among management and key employees.
The financing will not involve any equity, the group told Just Food.
The company said via a LinkedIn post that it has “undergone significant transformations under the ownership of Bencis Capital Partners, which together with the long-term financing from Eurazeo enables to accelerate the growth journey together with our customers”.
Prinsen Berning produces active nutrition bars and powders, a market which it claimed “is experiencing rapid expansion” in a statement.
“With this financing the company is ready to accelerate the growth journey of serving customers with great products and innovations to support their brands,” said Bas van den Berg, CEO at Prinsen Berning.
Van den Berg told Just Food that the investment will go towards a combination of “efficiency by automation and capacity extensions”.
Prinsen Berning was formed between 2016 and 2017, when funds managed by Netherlands-headquartered Bencis Capital Partners completed a three-way merger of Prinsen, Berning and Royal Buisman.
The group operates one facility in the Netherlands and one in Germany, with around 500 full-time employees. It estimates to turnover circa €200m ($217m) for its financial 2024.
The company offers products including protein bars and powders, meal replacement bars and shakes, paediatric and adult nutritional supplements, creamers and instant hot beverages (chocolate, cappuccino and coffee). The company’s customer base comprises the “world’s largest nutrition companies” as well as local brands and European retailers, it said in a statement.
It sells its products in Europe, the US, Latin America, the Middle East and China.
Yordi Malawauw, investment director at Eurazeo, said: “We have been impressed by Prinsen Berning’s leading position in the high-growth active nutrition market and its recent strong financial performance. In this vein, we are delighted to support the management with its growth strategy while also further cementing our partnership with Bencis.”
Eurazeo has around €35bn ($38bn) in assets under management, supporting more than 600 mid-market companies.
