H2 sells Oerlemans Foods to trade

Virto, founded in 1984 and based in Azagra, has a turnover of €300m.

With the acquisition, Virto is expected to generate a turnover of more than €400m. It will have a presence in Spain, France, the Benelux region, Germany and Poland. The merger is expected to guarantee the supply and quality of fresh raw materials, and should also increase the variety, quality and volume of its product range.

Previous funding
H2 bought Oerlemans in 2014 from parent company Vion, a Dutch food group. The transaction was part of Vion's ongoing strategy to divest its non-core assets. In December 2012, turnaround investor Endless acquired the Dutch group's UK pork business.

Unquote reported that Oerlemans generated a turnover of approximately €135m at the time of the 2014 acquisition. The business had been part of Vion since 2007.

Company
Oerlemans, founded in 1977, is a specialised manufacturer and supplier of frozen fresh vegetables, fruit and potato products. The company employs 700 staff and generates revenues of €90m.

The company focuses on the international food service, retail and industrial markets, and has a range of 1,000 products under the brands Oerlemans, Keizer, Bio+ and Bauer.

Headquartered in Venlo, the company has production plants in the Netherlands and Poland.

People
Virto – Javier Virto (CEO).
Oerlemans Foods – Raoul Vorage (CEO).
H2 Equity Partners – Gert Jan van der Hoeven (founder, managing partner).

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• Benelux
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• H2 Equity Partners