M&A Deal Summary

Gilde Equity Management Benelux, Rabo Private Equity and Rivean Capital Acquire Van Geloven

On October 1, 2001, private equity firm Gilde Equity Management Benelux, corporate investor Rabo Private Equity and private equity firm Rivean Capital acquired food company Van Geloven from Greencore for 41M EUR

Acquisition Highlights
  • This is Gilde Equity Management Benelux’s 2nd, Rabo Private Equity’s 1st and Rivean Capital’s 2nd transaction in the Food sector.
  • This is Gilde Equity Management Benelux’s , Rabo Private Equity’s 0th and Rivean Capital’s 7th largest (disclosed) transaction.
  • This is Gilde Equity Management Benelux’s 5th, Rabo Private Equity’s 5th and Rivean Capital’s 5th transaction in the Netherlands.
Investment Fate
  • Van Geloven was sold to a consortium of financial buyers in 2004.
  • Van Geloven was sold to a consortium of financial buyers in 2008 for 260M EUR.
  • 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 2001-10-01
Target Van Geloven
Sector Food
Buyer(s) Gilde Equity Management Benelux
Rabo Private Equity
Rivean Capital
Sellers(s) Greencore
Deal Type Divestiture
Deal Value 41M 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) 3

Buyer

Gilde Equity Management Benelux

Houten, Netherlands

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1982
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gilde Equity Management Benelux (GEM) is a unit of Gilde Investment Management, a Dutch investment firm. Gilde Equity Management (GEM) is a generalist investor, focusing on buyouts of mid-market growth companies valued between €20 and €200 million. Broad sectors of interest include services, consumer goods, manufacturing, and industrial products. Gilde looks for investments across the Benelux region. GEM was formed in 1992 and is headquartered in Houten, the Netherlands.


DEAL STATS #
Overall 5 of 52
Sector (Food) 2 of 9
Type (Divestiture) 1 of 9
Country (Netherlands) 5 of 43
Year (2001) 2 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 Clean Mat

Andelst, Netherlands

Clean Mat specializes in the sale and rental of sanitation and commercial vehicles, and ranks among the largest European suppliers of these products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-11-01 Codi Group

Veenendaal, Netherlands

Codi Group is a manufacturer of wet wipes for companies such as Beiersdorf (Nivea), Procter & Gamble, Sara Lee and Unilever. Codi offers clients a full outsourcing service covering production and - if required - packaging and delivery. Wet wipes are sold to the baby, skincare and hygiene segments. Codi Group was founded in 1978 and is based in Veenendaal, Netherlands.

Buy -
Buyer

Rabo Private Equity

Utrecht, Netherlands

Investor Investor Investor Investor Investor

website


Category Corporate Investor
Founded 2002
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Rabo Private Equity is the private equity/venture arm of Rabobank Group. Rabo Private Equity looks to invest €2 to €50 million in well-established, profitable Dutch companies as well as €1 to €10 million in early stage businesses. Rabo Private Equity will consider opportunities in most sectors, with the exception of real estate, biotechnology, financial services, and clean technology. In addition to direct investments, Rabo Private Equity also invests in 3rd party funds. Rabo Private Equity was established in 2002 and is based in Utrecht.


DEAL STATS #
Overall 5 of 30
Sector (Food) 1 of 7
Type (Divestiture) 1 of 1
Country (Netherlands) 5 of 29
Year (2001) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Selo

Hengelo, Netherlands

Selo is a supplier of food processing equipment, providing turnkey solutions & after sales support services to clients in Liquid Food, Petfood and Meat (Substitutes) markets. Selo was founded in 1944 and is based in Hengelo, Nederland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Holonite BV

Tholen, Netherlands

Holonite BV is a developer and producer of prefabricated composite stone elements for the building industry.

Buy -
Buyer

Rivean Capital

Amsterdam, Netherlands

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1982
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Gilde Buy Out Partners (GBO) is unit of Gilde Investment Management, a Dutch private equity group. Gilde Buy Out Partners (GBO) targets investments in larger businesses valued from €75 and €600 million with at least €8 million in cash flow. Broad sectors of interest include services, consumer goods, manufacturing, and industrial products. GBO looks for investments across Western Europe, with an emphasis on opportunities in Belgium, The Netherlands, Luxembourg, France, Germany, Switzerland and Austria. Gilde was formed in 1982 and has offices in Utrecht, Paris, Brussels, and Zurich.


DEAL STATS #
Overall 7 of 72
Sector (Food) 2 of 10
Type (Divestiture) 1 of 10
Country (Netherlands) 5 of 38
Year (2001) 3 of 3
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 Soudronic

Bergdietikon, Switzerland

Soudronic is the supplier of resistance and laser welding systems to the metal packaging sector and the automotive industry, with production sites in Switzerland, France, Italy and Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-01 United Coffee

Geneva, Netherlands

United Coffee (formerly Drie Mollen) is one of Europe’s largest coffee roasters, producing and distributing a wide range of coffee, coffee machines and related services through retail and out-of-home distribution channels, which includes hotels, restaurants and cafés.

Buy -

Seller(S) 1

SELLER

Greencore

Dublin, Ireland

website


Category Company
Founded 1991
Sector Food
Employees13,000
Revenue 1.3B GBP (2021)
DESCRIPTION

Greencore Group plc is a food company in Ireland. Established by the Irish Government in 1991 to take over nationalised Irish Sugar, today its lines span mainly convenience food related interests in Ireland and the United Kingdom. Greencore Group was founded in 1991 and is based in Dublin, Ireland.


DEAL STATS #
Overall 6 of 19
Sector (Food) 5 of 14
Type (Divestiture) 6 of 19
Country (Netherlands) 4 of 5
Year (2001) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-01 Sterk UK

United Kingdom

Sterk UK engages in Processing and preserving of fish, crustaceans and molluscs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-09-20 William Rodgers Foods

Kirkby-in-Ashfield, United Kingdom

William Rodgers Foods Ltd. manufactures pasta in sauce and savory rice and a variety of dried packaged groceries in private label formats.

Sell -