St. Paul - Squarefield

At the beginning of 2025, St. Paul (the “Company”) secured a comprehensive financing package to support the acquisition of Royal ERU, the expansion of St. Paul’s production facilities in Sint Jansteen (NL), and the refinancing of existing debt facilities. The financing was provided by ING Belgium.

St. Paul is a leading family-owned producer of high-quality cheese products with a strong international footprint. With the acquisition of Royal ERU, known for its iconic ‘Goudkuipje’ brand of spreadable cheeses, the Company has further strengthened its position in the Benelux market and reinforced its product offering across both retail and foodservice channels.

Squarefield advised St. Paul on structuring a tailored financing solution to support the company’s growth ambitions and optimise its capital structure. ING was selected as the financing partner due to its deep sector expertise and its ability to support St. Paul’s long-term strategic objectives.

This transaction further reinforces Squarefield’s strong track record as an independent corporate finance advisor to leading entrepreneurs and family-owned businesses in the European food & agri sector.

St. Paul

St. Paul, a family-owned company founded in 1985 and based in Lokeren (Belgium), has established itself as a leading player in the cheese industry by offering customised processed cheese products for the B2B market.