IK Investment Partners’ (IK) IK VII Fund is to sell Signature Foods to Pamplona Capital Management (Pamplona). Financial terms of the transaction have not been disclosed.
Signature Foods is a leading chilled convenience food company active in the growing European market, offering a unique combination of A-brands and a private label offering in the categories of spreads and dips, bites and tapas, and meal solutions. It owns several leading consumer brands, including Johma and Délio.
The company has a very strong presence in Benelux, particularly in the spreads category, and a rapidly growing European footprint, having recently expanded into France, Germany and Poland. It has long-established and trusted relationships with its customer base, which spans retailers (from premium to discounters) and the foodservice channel. Headquartered in Hilversum, the Netherlands, Signature Foods employs over 600 people across seven manufacturing sites in the Netherlands, Belgium, and Poland.
IK invested in Signature Foods in January 2016 and over the past five years the Company has expanded into new products and markets, completing four strategic acquisitions, and growing revenues in excess of €300 million.
Erik Bras, CEO Signature Foods, says: “Over the last five years the Company has transformed substantially, as we acquired and launched new brands and products, invested substantially in our production capabilities and grew our footprint in Europe. We are extremely grateful to everyone at IK for their partnership and support, enabling us to be where we are today.”
Norman Bremer, Partner at IK and advisor to the IK VII Fund, adds: “We are incredibly proud of our successful partnership with Signature Foods. In addition to a strategic buy and build programme, the Company has persistently invested in its brands and products, streamlined its supply chain and manufacturing processes while maintaining its focus on quality and sustainability, which have all contributed to the leading market position it enjoys today. The business has an exciting pipeline of further growth ahead and we wish Erik and the team every success in the future.”
The transaction remains subject to the approval of the competent antitrust authorities.