Amsterdam – CFI Netherlands and CFI Spain are pleased to announce they jointly acted as the exclusive corporate finance advisors to Virto Group in the acquisition of Oerlemans Foods (‘Oerlemans’ or the ‘Company’) from H2 Equity Partners and management.
Oerlemans is a grower, producer and supplier of fresh frozen vegetables and fruit products serving retail, foodservice and industry clients. The Company operates a solid production base with three facilities in Poland and the Netherlands and exporting products to more than 40 countries worldwide. The Company has around 700 employees and generates around EUR 90 million in sales. Oerlemans has a diversified sourcing network throughout the Netherlands, Germany and Poland ensuring a year round continuous supply for fresh natural ingredients to its facilities.
Virto Group, was founded in Spain in 1984 and has since grown into a global enterprise with facilities in 7 countries and operating on both sides of the Atlantic with activities comparable to those of Oerlemans. Virto Group is still owned and operated by the founding Virto family. The combination of both companies will further solidify their position as the leading European food group and a benchmark in the deep frozen vegetable sector, with annual sales of approximately EUR 400 million.
Mr Raoul Vorage (CEO Oerlemans) stated: “Joining forces with Virto, the industry leader in the field of quality, availability and innovation, is a true recognition of our hard work to find the best solutions for our customers.”
Mr Javier Virto (CEO Virto Group) stated: “This acquisition of Oerlemans allows us to further improve and reinforce our product range and service offerings to our customers. We welcome the Oerlemans employees and are looking forward to working with them.“
CFI Netherlands and CFI Spain initiated discussions and negotiations in a process that ultimately resulted in a successful transaction. This transaction further emphasizes CFI’s leading position in the Food & Beverage & Agribusiness sector.
The transaction closed on 8 October 2018.
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