Ready Meals

McCain to Acquire Iconic Mora Brand in Van Geloven Deal

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McCain Foods Limited and TowerBrook Capital Partners LP have agreed to terms for the sale of a majority stake in Van Geloven BV to McCain. Upon consummation of the deal, TowerBrook, a London-headquartered investment management firm, will remain a shareholder in the business and continue to support Van Geloven in its expansion plans. The transaction will give Van Geloven access to McCain’s extensive network throughout Europe and will further its ambition of creating a leading frozen snacks company with wider distribution on the continent and beyond.

mini snacks van gelovenTilburg, Holland-based Van Geloven supplies a broad range of frozen convenience snacks, appetizers, finger foods and additional offerings across a diverse family of products ranging from croquettes and chicken balls to frikandel and spring rolls. Its iconic Mora brand ranks as the most popular frozen snack name in the Benelux. Other brands are De Bourgondiër, Hebro, Ad van Geloven, Van Lieshout and Welten. The company also produces private label items for major retail and foodservice customers.

“Van Geloven has led the market addressing consumer needs and supporting its clients both on the retail and the out-of-home segments with high quality products, creating innovative new snacks targeting different consumer preferences and preparation methods,” according to a statement issued by TowerBrook Capital Partners.

Mora has experienced retail sales growth of 34% growth since 2010, driven by successful renovations and innovations in its appetizer and oven product ranges. In 2015 the company generated sales of €197 million.

McCain FoodsFlorenceville, New Brunswick, Canada-headquartered McCain Foods is a leading producer of value-added potato products and a major supplier of other frozen food items ranging from ready meals and pizzas to vegetables and desserts, operates 41 manufacturing facilities on six continents. Its products are used in restaurants and sold at retail stores in over 160 countries around the world.

“We are very excited to partner with McCain, whose global scale and expertise in frozen food will not only help further strengthen our position in the Benelux region, but will also accelerate our growth internationally as we continue to develop our European customer base,” said Peter Doodeman, Van Geloven’s chief executive officer.

croquettesDirk van de Put, chief executive officer of McCain Foods, added: “While Van Geloven will operate as a standalone company within the McCain Group, this acquisition truly complements our strategy for growth within our European markets. Van Geloven’s market leading brands and products offer us a fantastic opportunity to strengthen our overall appetizer and snack food market presence within the region.”