H2 Equity acquires Vion’s Oerlemans Foods

The transaction is 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.

In July last year, several private equity houses were reported to be circling Vion's ingredients division, which was on the block for €1.4-2bn. The subsidiary was eventually sold to US trade player Darling International for €1.6bn in October.

At the beginning of last year, Vion almost sold Oerlemans to Baltussen Holding, the holding company of Dutch trade player Baltussen Konservenfabriek. However, in May, Vion announced that it was retaining Oerlemans for the time being.

The Vion group, which is owned by agricultural association Zuidelijke Land-en Tuinbouworganisatie, is headquartered in Eindhoven with approximately 23,400 staff. Its turnover for 2012 was €9.7bn with an EBITDA of €34m.

Company
Oerlemans is a manufacturer and supplier of frozen fresh vegetable, fruit, herb and potato products. The company employs 740 staff and is headquartered in Venlo, with production plants elsewhere in the Netherlands and in Poland.

The company supplies more than 1,000 products under the Oerlemans umbrella brand, which comprises Oerlemans, Keizer, Grüner Korb and Menu Master.

Oerlemans generates turnover of approximately €135m. The company has been part of Vion since 2007.

People
Gert Jan van der Hoeven is the founder and managing partner of H2.

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• Topics
• Benelux
• Consumer
• Buyouts
• Netherlands