The Reitberg, Germany-headqurtered Frostkrone Food Group has expanded its presence in the United Kingdom with the purchase of Abergavenny Fine Foods Ltd. Terms of deal, financed by EMERAM Capital Partners, were not disclosed.
Blaenavon, Wales-based Abergavenny produces a wide assortment of frozen and called finger food and snacks distributed to retail and foodservice sector clients throughout Britain as well as buyers and distributors in Australia, Japan, the USA and elsewhere. The diverse portfolio ranges from Halloumi Fries and Jalapeño Poppers to Mozzarella Sticks, Mac’n’Cheese Croquettes, Jaffa Cake Bites, goat cheese and many other products including many vegan, gluten- and lactose-free offerings.
“Abergavenny Fine Foods is a cutting-edge business venture with experienced, innovative thinkers who focus on customers and their wishes. Such a precept mirrors exactly the philosophy of the Frostkrone Food Group, so we are delighted that Abergavenny is now part of our company group,” said Frostkrone CEO Frédéric Dervieux.
Following the acquisition, the Froskrone Food Group has grown to seven locations worldwide, as expansion continues even during today’s precarious times.
“We’re planning for the future. The finger food and snack market is continuing to grow and we, as an innovation driver, want to definitively grow with it,” said Dervieux. “We believe it is especially the free-from market that holds great potential all around the world, and aim to leverage this opportunity and continue expanding our exports.”
Managing Director Jason Rees will continue to run the Abergavenny Fine Foods, while Bryson Craske, who has worked as commercial director in the company that his parents founded in the early 1980’s, will be providing consultancy advice to Frostkrone in the area of export.
“I am delighted that I will be able to support the company group and will look to contribute to its success well after the sale process is complete,” said Craske, who has significant expertise and valuable contacts in the Asia-Pacific region.
In a similar vein, Rees points out that the merger with the Frostkrone will enable Abergavenny to open up more markets and further strengthen its position well beyond the UK’s borders.
“We are very excited to be joining the Frostkrone Food Group and continuing on our growth journey in frozen and chilled finger food together, bringing more value and job security to Wales and the local area in the process.”
Dr. Christian Näther, founding partner of Munich-based EMERAM Capital Partners, added: “The successful expansion of the Frostkrone Food Group confirms our positioning as a business development partner. Since our investment in 2017, we have now been able to realize the fifth follow-up acquisition and achieve double-digit annual sales growth. As a result, we have further developed Frostkrone into a global player with seven locations worldwide and around 800 employees. Our comprehensive commitment to the portfolio companies will benefit employees, customers and investors alike.”
Since its inception in 1997, Frostkrone has established itself as a trendsetter in the frozen convenience food sector. In addition to Frostkrone Tiefkühlkost GmbH and Bornholter Käsevertriebs- und Produktionsgesellschaft GmbH, Piz’wich Europe SAS and Varenne Gastronomie SAS have been part of the group since 2018. In 2019, the US company Rite Stuff Foods was added to the roster, and since February of 2020, Innovate Foods Ltd. in the UK has also been a member of the team. The group’s multi-faceted range of products is available throughout continental Europe, Britain, Asia and the United States.