Drie Mollen (Netherlands) - Jan 2008

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01 January 2008

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CapVest has acquired a majority stake in Drie Mollen, a coffee roasting company, from Gilde Buy Out Partners and AAC Capital Partners. Rabobank provided the debt for the transaction.

Exit deal

Gilde and AAC have sold their stake in Drie Mollen to CapVest, which they acquired with the management in November 2002. (February 2003, page 15)

Company

Founded in 1818, Drie Mollen has reinforced its position in the European tea and coffee market over the last couple of years through operations spread across the Netherlands, the UK, Switzerland, France, Spain and Germany. In 2002, the company acquired Swiss coffee roasting company, Ginger, targeting the out-of-home segment of the market and has since continued by acquiring Swiss coffee company Merkur in 2004 and UK-based First Choice Coffee in 2006. These companies have been integrated within Drie Mollen and have enabled it to expand its activities in the high growth out-of-home segment. In 2007, the company reported a turnover of approximately €300m and production of more than 50,000 tons.

People

Christopher Campbell led the deal on behalf of CapVest. Kees Krikke is Drie Mollen’s CEO.

Advisers

Equity - Aon Mergers and Acquisitions Group, (Insurance Due Diligence)Equity - CIBC, (Corporate Finance)Equity - ING Corporate Finance, (Corporate Finance)Equity - KPMG, (Financial Due Diligence)Equity - KPMG, (Tax)Equity - Linklaters, (Legal)Vendor - Booz Allen & Hamilton, (Commercial Due Diligence)Vendor - Clifford Chance LLP, (Legal)Vendor - KPMG's Private Equity Group (Copenhagen), (Tax)Vendor - KPMG's Private Equity Group (Copenhagen), (Financial Due Diligence)Vendor - Rabo Securities, (Corporate Finance)Vendor - TAUW, (Environmental Due Diligence)