Nordic Capital acquires leading bakery and food-service chain Lagkagehuset

Nordic Capital Fund VIII “Nordic Capital” acquires Lagkagehuset, a leading premium Danish bakery and food-service chain from FSN Capital who is selling its majority shareholding in the company after eight years of ownership. Lagkagehuset has stores throughout Denmark and a newly established presence in London. Nordic Capital sees great potential in supporting the acceleration of Lagkagehuset’s continued growth in Denmark as well as internationally.

Lagkagehuset is a leading premium bakery and food-service chain in Denmark with 67 stores, and a newly established presence in the UK. The company operates a premium concept focusing on high-quality artisanal breads, cakes and pastries as well as other food, teas and coffee. Its unique offering, quality products and proven concept are based on a business model with in-house bakery production and a scalable roll-out strategy. The stores in the UK, trading under the “Ole & Steen” brand, are the first phase of an international roll out and prove that the business model is highly scalable.

After several years of significant growth in the Danish market and a recent launch in London, Lagkagehuset is now well positioned for further internationalisation with Nordic Capital as the new owner of the company. Nordic Capital will acquire FSN Capital’s entire majority shareholding in Lagkagehuset A/S, as well as the stakes held by the two founders, Ole Kristoffersen and Steen Skallebæk.

“Nordic Capital has a track record of investments in the food industry and sees great potential in supporting Lagkagehuset in its further expansion. Lagkagehuset has a great customer-oriented concept that delivers high quality products every day and is a preferred brand for consumers in Denmark. Nordic Capital’s will leverage its industry expertise within the retail sector to further develop the company internationally supporting Lagkagehuset’s continued progress and expansion in partnership with the company’s strong management team,” says Michael Haaning, Partner, NC Advisory A/S, advisor to the Nordic Capital Funds.

“We started with Ole and Steen and two stores. Today, eight years later, there are 67 stores in Denmark and 2 in London. Lagkagehuset is above all a fantastic company with a unique culture and quality products. The 2 stores in London are the first expansion beyond Denmark’s borders. There will be 200 employees in London before year end, so it’s it has gone far beyond our expectations. I can proudly look back on our ownership period,” says Thomas Broe-Andersen, Partner at FSN Capital.

“We have had a really great cooperation with our owners FSN. We are excited to have found a strong partner in Nordic Capital, which has the experience, industry knowledge and capital to support us bringing Lagkagehuset to the rest of the world and we are looking forward to the new ownership. We have amazing employees and products and expect continued high growth in the coming years” says Jesper Friis, CEO of Lagkagehuset.

Lagkagehuset has professionalised the fresh bakery industry responding to the increasing public focus on healthy quality food products, a concept that resonates internationally. The Lagkagehuset chain has a high degree of flexibility of concept, ranging from large traditional bakeries to smaller urban food-to-go outlets. Lagkagehuset’s business model enables high quality at scale, and its strong brand and modern retail concept has been highly successful in the Danish market where the company now has 67 stores. The company has a total of 1,800 employees, reported revenues of DKK 665 million and growth of 20% in 2016.

The parties have agreed not to disclose the financial terms of the transaction.

The investment is subject to approval by the relevant authority.

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Conclusion of share sale: Greenyard food group, global player in vegetables and fruit

Gimv

Conclusion of share sale: Greenyard food group, global player in vegetables and fruit

Gimv was recently able to conclude the reduction of its participation in Greenyard, global market leader in vegetables and fruit, on Euronext Brussels (GREEN) with the sale of shares on the stock market.

In 2011, Gimv became a minority shareholder in PinguinLutosa via the Gimv-XL fund. With the objective of stimulating the further growth of successful Flemish companies to the next level and giving them the opportunity to achieve their ambitious plans, we were able, together with entrepreneur Hein Deprez and the Management, to realise the further expansion and growth of the company, first with the takeover of Scana-Noliko and later via the fusion with Univeg as well as many other investments in modern technology, capacity and other takeovers.

Today, the Greenyard group (www.greenyard.group) is the global market leader in vegetables and fruit with a client base comprised of the most important retailers in Europe. As a specialist in the processing and commercialisation of harvest-fresh vegetables, fruit and ready-made meals, the group is active in over 25 countries worldwide. With 9,000 employees and an annual turnover of approximately EUR 4.25 billion, it is, on an annual basis, one of the largest vegetable processors in Europe.

Over the entire 6 year investment period, this investment has resulted in returns that have exceeded the long-term average of Gimv. No further details about this transaction will be disclosed.

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Ardian Sells Majority Stake in IRCA Group to the Carlyle Group

Paris, 9th June 2017–

Ardian, the independent private investment company, today announces the signing of an agreement to sell its majority stake in IRCA Group to The Carlyle Group. IRCA Group is a leading Italian and European B2B manufacturer and seller of semi-finished products for the pastry, bakery and ice cream markets. With more 300 employees and three production plants near Varese, Lombardy, IRCA has a turnover of 250 million euros.

Ardian, IRCA Group’s majority stakeholder since 2015, has supported the company’s growth and strengthened its leading market position, both at a national and international level.

Nicolò Saidelli, Managing Director and Head of Ardian in Italy, said: “After a number of significant positive developments in recent years, we are pleased that IRCA, with a strong market position in the food sector, can now continue on its growth path with a new partner.”

Yann Chareton, Managing Director at Ardian in Italy , added: “We are very pleased to have supported the Nobili family and IRCA over the past two years, supporting its development and investments to further strengthen the Group’s expansion. We thank them for all their work and commitment, which has allowed us to strengthen the Group’s positioning and create further opportunities for the future.”

Roberto Nobili, IRCA Group CEO, declared: “I am proud to say that these two years together with Ardian have been rich in successes and satisfaction for IRCA. I thank Nicolò and his team for what the y did together”. The closing of the transaction is subject to the authorization by the Antitrust Authority.

ABOUT IRCA

Founded in 1919 by Nobili family, IRCA is a leadingItalian and European B2B manufacturer of semi-finished products for the pastry, bakery and horeca market thanks to a portfolio products composed by more a large variety of SKUs offered to industrial clients, internal bakeries of hypermarkets and pastry and bakery shops. In 2014, IRCA entered into the ice-cream ingredient mark et through the brand Joy Gelato.

The Group operates with three state of the art production sites located close to Varese (Lombardy) with about 306 employees recording a turnover of more than €250 million.

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$62bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship. Ardian maintains a truly global network, with more than 450

employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey, Luxembourg. The company offers its 580 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian Buyout (including Ardian Mid Cap Buyout Europe & North America,

Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.

www.ardian.com

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Håvard Sætre has been hired as new CEO of OptimarStette AS

Credo

Sætre is currently the CEO of Vard Electro AS, and will succeed Asbjørn Solevågseide (56), who will continue as head of OptimarStette’s sales activities.

Asbjørn Solevågseide has led the company since it was founded in 2003. Having developed OptimarStette into a global leader in automated seafood solutions, with 200 employees, a turnover of NOK 500 million and businesses in Norway, the US and Spain, Solevågseide has asked the company’s board to strengthen top management in light of expected further international growth, and in order to focus even more on customers, markets and business development.

Håvard Sætre founded what later became Vard Electro in 1997, and has led the company from the start until today, with NOK 1.7 bn turnover and 950 employees in 4 continents. The company is part of the Vard Group. Sætre knows OptimarStette well after having been chairman of Peter Stette AS for a number of years, and board member of OptimarStette since 2014, when Optimar Giske AS and Peter Stette AS merged.

Sætre will assume his new position within the next 6 months.

Credo Partners AS

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DBAG sells investment in ProXES

 

Deutsche_Beteiligungs_AG
Buy-and-build concept successfully implemented: Four leading companies under an umbrella organisation
Capvis acquires market leader in process technology for food industry
Another positive value contribution to third-quarter 2016/2017 netincome
Frankfurt am Main, 18 May 2017.
Deutsche Beteiligungs AG (DBAG) will very successfully conclude its investment in the ProXES Group (ProXES) by
selling its interests to Capvis Equity Partners IV LP, a fund advised by Swissprivate equity firm Capvis Equity Partners AG. The DBAG-managed DBAG Fund V also divests its interests. The company’s management will re-invest substantially. Agreements to that end were signed today. The transaction is subject to approval by the cartel authorities and is expected to close within the next three months. The parties to the contract have agreed not to disclose the purchase price.
The share of the agreed sales proceeds attributable to DBAG exceeds theinvestment’s valuation in DBAG’s IFRS interim accounts at 31 March 2017. The divestment will therefore result in a further contribution to net income of
approximately nine million euros in the third quarter of 2016/2017 ending 30 June 2017. The income contributions from this realisation and from the two most recently announced divestments (Formel D, Schülerhilfe) were not included in the earnings forecast for financial year 2016/2017 issued on 9 May 2017. In total, the three transactions will result
in a contribution to net income of about 27 million euros which has not been included in the forecast so far.
ProXES (www.proxes-group.com) is a leading provider of machines and production lines primarily for the food industry.
The group’s products are used to make and process liquid and semi-liquid food, cosmetics and pharmaceutical
products in a variety of processes. With its installed base of more than 100,000 machines worldwide, the group profits from its broad application knowledge and systems competence. It possesses expansive engineering expertise and is
able to provide integrated production lines, in addition to single machines.
Customers of the group’s companies include major globally operating producers of consumer goods.
DBAG and DBAG Fund V invested in the nucleus of the group, StephanMachinery GmbH, four years ago in a management buyout. The objective at the outset of the investment was to build a group of engineering companies that
have leading positions in their respective marketsand together are able to provide complete production lines and assume the technology and innovation leadership in the food processing segment. That goal has been reached. Three further companies were acquired in the past years, which complement the original product range. ProXES has forecast revenues of approximately 141 million euros for this year, more than triple the revenue that Stephan Machinery achieved in 2013. The alliance of the four group companies allows them to maintain a common international service and sales network,
collaborate in research and development and utilise economies of scale in other areas as well. Its large installed base serves as an excellent foundation for the spare-parts business.
“ProXES’ management has succeeded not only in acquiring three companies within a short period of time, but also in successfully integrating them,” said Dr Rolf Scheffels, Member of the DBAG Board of Management. “The buy-and-build concept has created a technology leader in mechanical engineering for the food industry, one that has tapped additional revenue potential thanks to its size.”
“We are well positioned to continue growing in the coming years,” said Olaf Pehmöller, CEO of ProXES, “and not only by better utilising our global sales network – we also intend to supplement our platform by adding further companies.”
The conclusion of the investment in ProXES is the fourth divestment of a company from the portfolio of DBAG Fund V within the past three months. Previously, the investments in the France-based FDGGroup, the Romaco Group and in FormelD were sold. From 2007 to 2013, the fund invested in eleven companies.
Deutsche Beteiligungs AG, a listed private equity company, initiates closed-end private equity funds and invests alongside the
DBAG funds in well-positioned mid-sized companies with potential for development. DBAG focuses on industrial sectors in which Germany’s ‘Mittelstand’ is particularly strong on an international comparison.
With its experience, expertise and equity, DBAG supports the portfolio companies in implementing corporate strategies that sustainably create value. Its entrepreneurial approach to investing has made DBAG a sought-after investment partner in the German-speaking world. Assets under management or advisement by the DBAG Group amount to approximately 1.8 billion euros.
Public Relations and Investor Relations · Thomas Franke
Börsenstrasse 1, 60313 Frankfurt am Main
Tel. +49 69 95 787-307 · +49 172 611 54 83 (mobile)
E-Mail: thomas.franke@dbag.de

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EQT VI to sell Færch Plast to Advent International

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  • EQT
  • EQT VI to sell Færch Plast, a leading provider of customized plastic packaging solutions for the food industry, to Advent International
  • Færch Plast uses highly automated state-of-the-art production facilities and technology to provide customers with a uniquely tailored rigid plastic packaging offering
  • During the ownership of EQT VI, Færch Plast has been transformed into a European leader within its target segments through organic growth, cost improvements, product expansions and increased scale from two add-on acquisitions

EQT VI Limited (“EQT VI”) has entered into an agreement to sell Færch Plast (or the “Company”) to Advent International (“Advent”). Færch Plast, headquartered in Holstebro, Denmark, was founded in 1969 and today offers leading plastic packaging solutions across Europe. The Company operates within three segments; Fresh Meat, Food-to-Go and Ready Meals, and today has leading positions within its target segments.

EQT VI acquired Færch Plast in 2014 with the ambition to drive continued organic growth across Europe, increase profitability through product optimization and explore M&A opportunities to gain immediate scale. During the ownership of EQT VI, Færch Plast successfully executed on these targets through:

  • Strong continued organic growth through launches of new and innovative products
  • Significant investments in the production platform, footprint optimization and sales force expansion
  • Completion of two highly value accretive add-on acquisitions, and extracted significant cost and revenue synergies through implementation of best-practice production standards, an increased product offering and cross-selling
  • Doubling the number of employees

As a result of the value creation initiatives driven under EQT VI’s ownership, Færch Plast has approximately doubled both revenue and EBITDA since the acquisition.

“Færch Plast has been fundamentally transformed from a local champion to a pan-European leader in the rigid plastic trays market during the ownership of EQT VI. This has been a tremendous effort, led by CEO Lars Gade Hansen and his entire organization. Through two highly value-accretive add-on acquisitions, Færch Plast has expanded its product offering across Europe and implemented best-practice production standards to realize significant synergies. With the current platform, we believe Færch Plast is ready for its next growth journey and further internationalization, and we are confident that Færch Plast will continue to succeed in the future” says Mads Ditlevsen, Partner at EQT Partners and Investment Advisor to EQT VI.

“During the sales process, we have been looking for a new owner of the same quality and reputation as EQT, who can help us develop our business further and take Færch Plast to the next level. With Advent, we are convinced that we have found the right global partner, and we are excited about the journey in front of us”, says Lars Gade Hansen, CEO of Færch Plast.

The parties have agreed not to disclose financial details of the transaction. The agreement is subject to customary anti-trust clearance and the transaction is expected to close in Q3 2017.

The sellers were advised by Credit Suisse, FIH Partners, Plesner, PwC and COWI.

Contacts
Mads Ditlevsen, Partner at EQT Partners, Investment Advisor to EQT VI, +45 33 12 45 36
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 36 billion in raised capital across 23 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More information: www.eqtpartners.com 

About Færch Plast
Færch Plast was founded in 1969 and is headquartered in Holstebro, Denmark. The Company is a provider of customized plastic packaging trays for the food industry and manufactures more than 5 billion trays annually. Færch Plast offers a full range of rigid plastic trays within Fresh Meat, Food-to-Go and Ready Meals, and today the Company has leading positions within its target segments across Europe. Færch Plast employs more than 1,100 people with local operations in more than 15 countries.

More information: www.faerchplast.com

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Ard Group and Verdane partner to develop Mustad globally

Ard Group

Verdane Capital IX invests in Norwegian investment company Ard Group’s portfolio, including O. Mustad & Søn AS, a world leading producer of fishing hooks and fishing related accessories.

Ard Group and Verdane aim to jointly develop the portfolio’s strong companies, and through the transaction, Verdane Capital IX becomes the majority owner in Ard Group portfolio companies O. Mustad & Søn AS and Sunkost AS.

For Mustad, a Norwegian company with roots dating back to the 19th century, the investment marks the next phase of development. John Are Lindstad, with a background from Fenix Outdoor Group/Fjällräven, was appointed CEO of Mustad in April.

Lindstad said: Mustad is a company with an inspiring history and a 140-year tradition. I am very enthusiastic about leading this great team and company to the next level, with expansion built around Mustad’s globally strong brand.

As a global leader in fishing hooks, Mustad produces over 1.5 billion hooks per year for recreational and commercial use. The company has 460 employees, and revenues of Nkr 312m in 2016.

Børre Nordheim-Larsen, CEO of Ard Group, added: I am very pleased to have Verdane on board as the new co-owner. The experience, network and track-record of Verdane is exactly the right match for Mustad and Ard Group. As a new owner and partner Verdane will be instrumental in taking our companies to the next level.”

Arne Handeland, Partner at Verdane Capital Advisors said:Through the efforts of the employees of Mustad, and owner Ard Group, Mustad has positioned itself with a strong brand-name and considerable possibilities to grow internationally. We are very excited to have the opportunity to play a part in unlocking that potential.”

About Ard Group
Ard Group is a privately-owned investment company with roots going back to 1946. In the last ten years, the company has been geared towards becoming a family office/industrial investment company. Ard Group is owned by a Norwegian private individual, Børre Nordheim-Larsen. More information about Ard Group is available at: www.ardgroup.no

About Verdane
Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest both in single companies, and portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 25 employees working out of offices in Oslo, Stockholm, and Helsinki. More information can be found at: www.verdanecapital.com.

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Swander Pace Capital Sells Kicking Horse Coffee to Lavazza

Swander Pace logo

Swander Pace Capital Sells Kicking Horse Coffee to Lavazza

Bedminster, NJ (May 24, 2017) – Swander Pace Capital, a leading private equity firm specializing in consumer products companies, has sold Kicking Horse Coffee, Ltd., the #1 organic and fair trade coffee roaster in Canada, to Luigi Lavazza S.p.A. in a transaction valuing the company at C$215 million.  The firm partnered with Co-Founder Elana Rosenfeld in 2012 and made the investment through its Branch Brook Holdings partnership with Jefferson Capital Partners and United Natural Foods, Inc.

During the last five years, Kicking Horse Coffee achieved industry-leading growth across North America and benefited from material investments in its business, particularly sales, marketing, and operations infrastructure.  Consumers in North America continue to seek a better coffee experience, and Kicking Horse Coffee has consistently delivered one for over twenty years, priding itself on offering an exceptional cup of coffee that can be brewed in one’s own home.

“Swander Pace and the rest of the Branch Brook team were the perfect partners for me when I sought help and wanted to grow my business beyond Western Canada.  I was not willing to sacrifice our values, culture, and uncompromising product quality standards,” said Elana Rosenfeld, Co-Founder and CEO of Kicking Horse Coffee. “The expertise they brought to the table was real, introduced in a respectful way, and truly helped us grow.  They also repeatedly demonstrated their integrity and approach to partnership.”

“It has been an absolute privilege to work with Elana, the team, and this incredible brand as we expanded its footprint in stores across North America.  The brand’s success and growth momentum in North America speaks for itself,” added Rob DesMarais, managing director at Swander Pace Capital. “We are now excited to watch the company thrive as it enters this new chapter with Lavazza.”

Linda Boardman, President of Branch Brook Holdings, added further, “We are genuinely pleased by this outcome with Kicking Horse Coffee as it has been a real pleasure to work with such a passionate and committed group of people.  This milestone demonstrates the breadth of resources that our team can bring to the table to capitalize on a company’s strong foundation, accelerate its growth, and create a truly sustainable market position, all while preserving the brand’s quality commitment.”

About Swander Pace Capital 

Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to
consumers’ lives. SPC’s consumer industry expertise informs the firm’s strategic approach and
adds value through access to its proven SPC Playbook, senior team, and extensive network. The firm partners with management teams to help build companies to their full potential. SPC invests in businesses across three domains of consumer lifestyles: Food & Beverage, Body & Wellness, and Home & Family. With offices in San Francisco, New Jersey, and Toronto, SPC has invested in more than 45 companies and raised cumulative equity commitments of approximately $1.8 billion since 1996. For more information, visit www.spcap.com.

About Branch Brook

Branch Brook Holdings, LLC represents a strategic partnership formed in early 2012 between Swander Pace Capital, Jefferson Capital Partners, and United Natural Foods, Inc. to make investments in organic, natural, and specialty consumer product companies.  Branch Brook works closely with the owners, founders, and management teams of its companies to provide the capital, resources, distribution support, and strategic guidance they need for its businesses to grow.  Kicking Horse Coffee was the first investment made by Branch Brook.  Subsequently, Branch Brook has made investments in Oregon Ice Cream, which owns the two leading organic ice cream brands in the US (Alden’s and Julie’s), and Reliance, which owns PlantFusion, a leading plant-based protein powder and beverage brand in the natural channel.  Branch Brook represents an extension of Swander Pace Capital and has full access to all of these resources.  For more information, please visit www.branchbrookllc.com.

About Kicking Horse Coffee

Kicking Horse Coffee, Ltd. is based in Invermere, British Columbia (Canada) and celebrated its 20 year anniversary as a company in 2016.  Kicking Horse Coffee remains a pioneer of whole bean and fair trade coffee in Canada and is best known for its distinctive coffee blends and unique brand personality.  The Company was recently named the #10 Best Place to Work in Canada.  For more information, visit www.KickingHorseCoffee.com.

 

 

Media Contact:

Jeff Segvich

LANE, a Finn Partners Company (on behalf of Swander Pace Capital)

Phone: 503.546.7870

jeff.segvich@finnpartners.com

 

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InVivo Group to acquire Baarsma Wine Group

AAC Logo

Paris, Huizen – 23 May 2017. French agricultural cooperative group InVivo Group (www.invivo-group.com) intends to buy a 100% share in the Dutch-based Baarsma Wine Group (www.baarsma.com). The company has reached an agreement to this effect with Baarsma Wine Group’s current shareholders, private equity firm AAC Capital Partners, and the management. Over the next few years, InVivo Group wishes to grow its international wine activities both autonomously and through acquisitions. The intended acquisition will be submitted for approval by the Competition authority. Neither company is disclosing financial details of the transaction.

InVivo Group, with an annual turnover of €6.4 billion and 9,200 employees, has a presence in 31 countries across the globe. Its activities are concentrated within four divisions: Agriculture, Animal Nutrition and Health, Retail and Wine. The wine division, InVivo Wine, already has stakes in various French wine companies and commercial activities in Asia and North America. Representing an annual turnover of approximately €348 million, the focus is on the production and bottling of wines and the market representation of over 23 cooperatives (3500 wine makers). Vinadeis (www.vinadeis.fr), as part to its wine division, has bottling and packaging facilities for wines that, under various brand names, mainly reach the French domestic market. Cordier is developing an outstanding range from Bordeaux with a modern approach and Mestrezat is specialised in Grands Crus wines.

The Dutch-based Baarsma Wine Group is a European leader in wine imports and distribution. The group has an annual revenue of approximately €210 million, 250 fulltime employees and is active in the Netherlands, Belgium, the UK, Switzerland and South Africa. The strength of the company lies in marketing wines nationally and internationally to retail, the hospitality and foodservice sector, specialist stores and in some countries directly to consumers. The product portfolio includes wines of internationally renowned and successful wineries, own brands and private label wines for supermarkets and foodservice companies. In addition to sourcing, distribution, sales and marketing, Baarsma Wine Group also runs its own bottling facility in Zaandam, the Netherlands, and produces and bottles some of its wines in Switzerland and South Africa.

Commenting on the intended acquisition, Mr Bertrand Girard, Managing Director of InVivo Wine, said: ‘InVivo Wine’s strategy is to accelerate its development internationally so as to build access to markets and create added value for the wine industry from grapes to consumers. Baarsma will be a key distribution platform for InVivo Wine in Europe and will perfectly complement existing footholds and those currently in development within the group, especially in Asia and North America. With Baarsma, 80% of InVivo Wine’s current operations will be international, aiming to achieve a turnover of 500 million euros by 2020 on the international scene.’

Mr Cees de Rade, Managing Director of Baarsma Wine Group, looks forward to working with the new shareholder: ‘This acquisition is good news for our people in the first place. We think that Baarsma Wine Group stands to benefit from bringing on board a strategic shareholder who shares our international ambitions. InVivo Wine and Baarsma Wine Group complement each other well in the wine supply chain. Our joint growth plans are very ambitious. However, with our existing suppliers and customers it will mostly be business as usual.’

InVivo Wine and Baarsma Wine Group , subsidiaries included, will continue to operate autonomously and under their own names. There will not be an organisational merger. In the years to come, the expansion outside of France will be driven mainly from the Netherlands, with a leading role for the management of Baarsma Wine Group. Mr Cees de Rade (CEO) and Mr Ed van der Sluijs (CFO), will also become members of InVivo Wine’s Executive Committee, chaired by Bertrand Girard.

Both companies expect to complete the acquisition by early summer.

[End]

Note to the editors:

For further information, please contact:

Baarsma Wine Group                                                        Creative Venue PR

Mr. Cees de Rade – CEO                                                     Mr Frank Witte, spokesperson

holding@baarsma.com                                                       f,witte@creativevenue,nl

Tel. +31 (0) 35 626 1270                                                    Tel. +31 20 4525225

www.baarsmawinegroup.com

 

About Baarsma Wine Group

Baarsma Wine Group is a leading distributor of quality wines, active in the Netherlands, Belgium, the UK, Switzerland and South Africa. Established some 30 years ago in the Netherlands, Baarsma Wine Group has evolved into one of the main players in the European wine market, with a turnover approaching 210 million Euros and over 250 full time employees.

Baarsma Wine Group’s strength lies in marketing wines internationally to retail, out-of-home, the hospitality and foodservice sector, specialty stores and in some countries directly to consumers. The product portfolio includes wines of internationally renowned and successful wineries, Baarsma’s own brands and private label wines for supermarkets and foodservice companies. Further reading: www.baarsma.com

About InVivo Wine

InVivo Wine was launched in June 2015, as the fourth hub of InVivo, the leading French agricultural cooperative group. It consists of a group of partners, investors and contributors, the first of which were the 1st French winery cooperative, Vinadeis (€308 million turnover), the Bordeaux firms of Cordier and Mestrezat Grands Crus (€40 million turnover) and 23 members of cooperatives (3500 wine-makers) covering a wine-producing area of 25,000 hectares. The area includes the Bordeaux District, South-western France, Languedoc and Roussillon, the Rhône Valley and Beaujolais, representing the finest production of more than 1.3 million hectolitres of wine. The division’s main objective consists of building a unique global world-wide wine distributor with wine from all most renown origins in top wine consuming countries.

About InVivo

The InVivo group comprises 220 cooperatives bringing together over 300,000 farmers. The Group employs 9,200 people in 31 countries and works in four main activities: Agriculture (seeds, agricultural supplies, international grain trading), Animal Nutrition and Health, Retail, and Wine. It reported revenue of €6.4 billion in FY 2015-2016.

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Rabobank Launches Venture Capital Fund for Innovative Food & Agriculture Companies

Today, Rabobank is announcing the launch of the Rabo Food & Agri Innovation Fund, part of Rabo Private Equity. The fund will invest in high-potential, early-stage food and agriculture companies in the United States and Western Europe. Through the fund, Rabobank aims to promote innovation in the food and agriculture sectors.

“The Rabobank Food & Agri Fund focuses on companies that are aligned to Rabobank’s Banking for Food strategy. This strategy focuses on contributing to food security in the context of a rapidly growing world population, changing demographics and consumption patterns and an increasingly complex food system,” says Lizette Sint, Global Head of Rabo Private Equity.

“We consider investments all along the food and agriculture value chain, with a particular focus on ambitious companies that operate in sectors in which we can optimally leverage Rabobank’s knowledge, expertise, network and position to help create shareholder value,” says Richard O’Gorman, who leads the investment initiative as part of Rabo Private Equity.

The fund’s investments will consist of more than just financial support. In addition to Rabobank’s role as a close investment partner, the selected companies will enjoy full access to Rabobank’s food and agriculture experts and networks with the goal of building long term value together.

The Rabo Food & Agri Innovation Fund is complementary to the other activities the bank supports in the food and agri space, including its indirect investments in strategic venture capital and private equity funds.

For more information about the Rabobank Food & Agri Innovation Fund, please visit www.rfaif.com.

About Rabobank

Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in more than 40 countries worldwide. Founded over a century ago, Rabobank today is one of the world’s largest banks with over $750 billion in assets. In the Americas, Rabobank is a premier bank to the food, agribusiness and beverage industry, providing sector expertise, strategic counsel and tailored financial solutions to clients across the entire food value chain. Additional information is available on our Rabobank North America Wholesale website or on our social media platforms, including Twitter and LinkedIn.

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