On 11 September 2023, Nimbus Investment Fund V Coöperatief U.A. (“Nimbus”), through a wholly-owned holding entity, closed the transaction with Aviko B.V. (“Aviko”) to acquire its steam-fresh and pre-cooked potato factory in Cuijk, the Netherlands.
Aviko Cuijk has been successfully part of Aviko for over 15 years. Aviko’s strategy focuses on the frozen potato products and fries market (both fresh and frozen). Aviko Cuijk produces a wide range of steam-fresh and pre-cooked potato varieties which, given their nature, have a less prominent position in Aviko’s strategic product portfolio. Therefore, Aviko has decided its Cuijk operations are better off in a stand-alone setting.
Aviko Cuijk will be rebranded into Frespo following the acquisition by Nimbus. Nimbus will support Frespo to transition into a focused and customer-centric stand-alone organisation. Frespo will continue its strategy by focusing on steam-fresh and pre-cooked potato products for the foodservice and business-to-industry markets across Europe. Nimbus supports Frespo’s growth ambitions and is looking forward to working together with its customers, suppliers and employees.
Squarefield acted as exclusive financial advisor to Royal Cosun, the key shareholder of Aviko, on the sale of Aviko’s Cuijk assets.