
IK's Salad Signature acquires Heksenkaas
IK Investment Partners portfolio company Salad Signature has acquired Dutch and Belgian cheese producer Heksenkaas.
The vendor, Roerink Food Family, acquired the Heksenkaas brand from a local greengrocer in 2011. The group has five other Dutch food brands: Twekkelo, Zuivelhoeve, Miss Magic, Happy Goat and De Dessert Meesters.
IK bought Salad Signature in a tertiary buyout from AAC Capital Partners in December 2015. The GP drew equity from IK VII fund, which closed on €1.4bn in October 2013.
IK said at the time of the original acquisition that it planned to expand the company into new countries and to support further bolt-ons.
Company
Hengelo-headquartered Heksenkaas is a cheese producer. The company was founded in 2011 when Roerink Food Family acquired the name from a local greengrocer and opened a factory in Oldenzaal. The company generated an operating profit of €4.8m and employed 14 people in 2014, the last year for which records are publicly available.
Advisers
Vendor – Axeco (corporate finance); Houthoff Buruma (legal); Deloitte (financial due diligence).
Equity – Vriman (legal); PwC (financial due diligence).
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