Van Loon Group
Squarefield acted as exclusive financial advisor to Van Loon Group on the acquisition of Bonfait
Squarefield acted as exclusive financial advisor to the Van Loon Group on the intended acquisition of Bonfait from Unilever
Today, our client Van Loon Group, a leading Dutch meat and meat substitutes processor, announced the intended acquisition of Bonfait (or the “Company”), a Netherlands-based producer of ready-made meals, meal components, (pasta) salads, soups and sauces. Bonfait is currently part of the German company Apetito, which has decided to concentrate its business on the frozen meals market. The Company will join Van Loon Group after the necessary approvals of the Consumer and Market Authority (ACM) and works councils of both companies.
For Van Loon Group, the acquisition is a clear strategic choice to further invest in broadening its product range. In addition to its activities in meat, meat products and meat substitutes, through this acquisition Van Loon Group is now entering the national and international market for ready-made meals and meal components. Bonfait will act as an independent ready-made meals division within the Van Loon Group.
Erik van Loon – Chairman of the Board of Van Loon Group“We’re a future-oriented company. We had already identified opportunities in the meat substitutes market. A separate division for meals is the next step for us, to realise stable growth and further development in the longer term. We are intending to take on the role of chain manager in this market too. Furthermore, Bonfait’s customer portfolio fits well with ours.”
Gerard Polman – Managing Director of Bonfait“In recent years, Bonfait has developed into one of the bigger players in the growing convenience market. We have achieved this by cooking high-quality products with a customer-oriented, flexible and innovative approach. We are delighted to be joining Van Loon Group, who are already familiar with the characteristics of the market in which we operate. With the right support, we will continue where we left off: growing and working closely with our customers in ensuring that the ready-made meals displayed on the shelf look even tastier.”
Our client’s view on Squarefield’s role in this transaction:
Pieter Geraerts – CFO of Van Loon Group“Squarefield has brought this deal to our attention as they saw a fit with our clients and our strategy as value chain organisor. During the process, Squarefield remained pragmatic and professional during the most decisive moments of this transaction. It is great to work with a corporate finance advisor who understands this sector so well!”