On December 21, 2023, our client Blendwell Food Group B.V. (‘’Blendwell’’), a portfolio company of Gimv, reached an agreement with Menken Orlando for the sale of 100% of the shares of Choco Support B.V.. The acquisition of Choco Support will strengthen Menken Orlando’s position in the category of chocolate-coated products and chocolate clusters
Menken Orlando and Choco Support both operate within the European retail and B2B market segments. Expanding the product range and leveraging synergies between the companies will enhance their offering of innovative products and product concepts. This strategic move aligns with Menken Orlando’s ambition to achieve healthy growth and strengthen its position in the chocolate products market.
Choco Support is part of the Blendwell Food Group, which also includes Snack Connection. Having recently explored various strategic directions, Blendwell has decided to fully focus on the core of their business. This involves the procurement, processing, blending, and packaging of nuts, seeds, and dried tropical fruits.
The sale of Choco Support was overseen by Squarefield, a Food & Agri focused corporate finance advisor with offices in Amsterdam, Frankfurt, and Antwerp. The sale of Choco Support demonstrated Squarefield’s ability to execute swift carve-out processes tailored towards strategic buyers.