M&A Deal Summary

Lion Capital and Avedon Capital Partners Acquire Van Geloven

On August 1, 2008, private equity firm Lion Capital and growth capital firm Avedon Capital Partners acquired food company Van Geloven from Egeria for 260M EUR

Acquisition Highlights
  • This is Lion Capital’s 7th and Avedon Capital Partners’ 1st transaction in the Food sector.
  • This is Lion Capital’s 11th and Avedon Capital Partners’ largest (disclosed) transaction.
  • This is Lion Capital’s 3rd and Avedon Capital Partners’ 7th transaction in the Netherlands.
Investment Fate
  • Van Geloven was sold to a consortium of financial buyers in 2015.
  • Van Geloven was sold to a strategic buyer in 2016.

M&A Deal Summary

Date 2008-08-01
Target Van Geloven
Sector Food
Buyer(s) Lion Capital
Avedon Capital Partners
Sellers(s) Egeria
Deal Type Secondary Buyout
Deal Value 260M EUR

Target

Van Geloven

Tilburg, Netherlands
website
Van Geloven is a producer of frozen snacks and appetizers in the Benelux market. The company produces various ragouts products (such as croquettes and bitterballs), satay, nasi and bami products (ethnic Indonesian fried rice, respectively, noodle dish) and minced-meat rolls (frikadellen, hamburgers). Van Geloven was formed in 1960 and is based in Tilburg, Netherlands.

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Buyer(S) 2

Buyer

Lion Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 4.3B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Lion Capital LLP is a specialist private equity firm focused on consumer-oriented opportunities throughout Europe and North America. Specific areas of interest include apparel, accessories, luxury goods, food, and specialty retail. Lion Capital LLP was formed in 2004 and is based in London. The Firm has an additional office in New York City.


DEAL STATS #
Overall 17 of 42
Sector (Food) 7 of 10
Type (Secondary Buyout) 8 of 20
Country (Netherlands) 3 of 4
Year (2008) 5 of 5
Size (of disclosed) 11 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-23 Findus

London, United Kingdom

Findus is a frozen food group and one of Europe’s overall food manufacturers. Through its Young's and Findus brands, category leaders within the UK, the Nordic region, and France, the Group's portfolio of leading brands is unmatched in its strength and awareness with consumers in its core markets. Findus was founded in 1945 and is based in London, United Kingdom.

Buy £1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-13 American Apparel

Los Angeles, California, United States

American Apparel, Inc. is a designer, manufacturer and distributor of basic casual apparel to screen printers, distributors and its own branded retail stores. American Apparel was founded in 1998 and is based in Los Angeles, California.

Buy -
DESCRIPTION

Avedon Capital Partners is a private investment firm focused on minority and majority growth investments in the Benelux and Germany. Avedon pursues rapidly growing companies that have reached an inflection point where a growth equity investment can create significant value. The Firm looks to invest €5 to €30 in companies valued up to €150 million. Investment proceeds are generally used to fund key growth initiatives or shareholder liquidity. Avedon Capital Partners was formed in 2011 and is based in Amsterdam.


DEAL STATS #
Overall 9 of 29
Sector (Food) 1 of 1
Type (Secondary Buyout) 2 of 3
Country (Netherlands) 7 of 19
Year (2008) 6 of 6
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-10 JOST

Neu-Isenburg, Germany

JOST is a manufacturer of components for connecting truck and trailer units. The Company offers branded quality products clustered in three systems: Vehicle Interface (focusing on products required to operate a commercial vehicle combination of trucks and trailers such as fifth wheels and landing gears), Handling Solutions (including container technology and hydraulic cylinders products) and Maneuvering (focusing on truck and trailer axles and forced steering). JOST was founded in 2008 and is based in Neu-Isenburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Fit For Free Beheer BV

Leiderdorp, Netherlands

Fit For Free Beheer BV is a provider of affordable and accessible gyms to value focused customers across 90 prime locations in the Netherlands. Fit For Free offers cardio training, weight training, live group lessons, spinning, circuit training, FunXtion, and personal coaches. Fit For Free Beheer BV was founded in 2005 and is based in Leiderdorp, Netherlands.

Buy -

Seller(S) 1

SELLER

Egeria

Amsterdam, Netherlands

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 1.7B EUR
Size Large
Type Sector Agnostic
DESCRIPTION
Egeria's office in Amsterdam.
Egeria's office in Amsterdam.

Egeria is a Dutch private equity firm that seeks controlling stakes in middle-market companies located in The Netherlands, or having a local connection. Egeria looks for companies with stable cash flows, experienced management, and strong growth potential. Egeria is sector agnostic, however, the firm will not consider investing in biotech, software, or 'non-ethical' sectors. Target companies are generally valued between €50 and €350 million. Egeria was formed in 1997 and is based in Amsterdam.


DEAL STATS #
Overall 5 of 21
Sector (Food) 1 of 2
Type (Secondary Buyout) 2 of 9
Country (Netherlands) 3 of 17
Year (2008) 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 Nijhuis Industries

Doetinchem, Netherlands

Nijhuis Water Technology is specialized in the design, production, and installation of advanced industrial water and wastewater treatment solutions with a worldwide footprint. Nijhuis was formed in 1904 and is based in Doetinchem, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-30 Royal van Lent Shipyard B.V.

Kaag, Netherlands

Royal van Lent Shipyard B.V. is a designer and build of luxury motor yachts. Royal Van Lent operates under the name of Feadship, a global brand.

Sell -