Add-on Acquisition • Food

GBfoods Acquires Continental Foods Belgium NV

On May 2, 2019, GBfoods acquired food company Continental Foods Belgium NV from CVC Capital Partners

Acquisition Context
  • This is GBfoods’ 1st transaction in the Food sector.
  • This is GBfoods’ 1st transaction in Belgium.

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M&A Deal Summary

Date May 2, 2019
Target Continental Foods Belgium NV
Sector Food
Buyer(s) GBfoods
Sellers(s) CVC Capital Partners
Deal Type Add-on Acquisition

Target Company

Continental Foods Belgium NV

Puurs-Sint-Amands, Belgium
Continental Foods Belgium NV owns a portfolio of heritage consumer brands primarily in soups, sauces, and bouillons such as Devos Lemmens, Royco, Liebig, Déli Soup, Erasco, Blå Band, Touch of Taste and Lacroix. The company is headquartered in Belgium and has four manufacturing plants employing around 1,100 full-time employees.
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Buyer Overview 1

Buyer

GBfoods

Barcelona, Spain

Category Company
Founded 1978
Sector Food
Employees2,400
DESCRIPTION

GBfoods manufactures meal solutions such as soups, ready dishes, and fish. GBfoods is present with its daily meal products in Netherlands, Russia, CIS Republics, in 30 countries in Africa and the Middle East through prestigious brands as Gallina Blanca, Star, Jumbo, Grand'Italia and Gino. GBfoods was founded in 1978 and is based in Barcelona, Spain.


Deal Context for Buyer #
Overall 1 of 1
Sector: Food 1 of 1
Type: Add-on Acquisition 1 of 1
Country: Belgium 1 of 1
Year: 2019 1 of 1

Seller Profile 1

SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


Deal Context for Seller #
Overall 147 of 182
Sector: Food 9 of 11
Type: Add-on Acquisition 54 of 69
Country: Belgium 5 of 6
Year: 2019 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 Doc Generici

Milan, Italy

Doc Generici provides drugs for the treatment of common medical conditions with a broad product portfolio and a strong presence in areas including cardiovascular, gastrointestinal/metabolism and neurological treatments. Doc Generici operates an asset-light model and benefits from a consolidated network of suppliers. Doc Generici was founded in 1996 and is based in Milan, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-06 Vitech

New York, New York, United States

Vitech is a global software company that provides cloud-native administration platforms for insurance, retirement, and investment organizations. Their flagship product, V3locity, supports core functions like insurance administration, claims, pension risk transfer, and analytics. Vitech emphasizes transforming legacy systems into scalable, future-ready digital operations. Vitech was founded in 1986 and is headquartered in New York City.

Buy -

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