It was agreed last week that private equity firm, Lion Capital will acquire the Foodvest Group from funds advised by CapVest Ltd.
Foodvest is a major European food group with operations in the UK, Scandinavia, France and a growing presence in Central and Eastern Europe. The company has more than 6000 employees across 20 facilities in five countries and in 2007 generated over £1bn of turnover.
In the UK Young’s is the leading branded producer and distributor of seafood. Findus is the leading, branded frozen food manufacturer in Scandinavia and The Seafood Company is a leader in the production of chilled, private-label seafood products in the UK
Per Harkjaer, chief executive of Foodvest, says; “With CapVest’s support we have brought the group to a powerful position, and this change of ownership is a logical next step in our development. Lion Capital’s specialist consumer experience will be helpful in taking the business to the next level.
“We have a strong track record and a solid strategy with robust forward plans, but more importantly we have great products and super people. This has made us an attractive food group – despite the current difficult economic climate. On behalf of everybody that works in the Group I am very proud of this deal at this point in time.”
