Private equity firm EMERAM: Portfolio company Frostkrone Food Group strengthens international presence with acquisition of Abergavenny Fine Foods Ltd

- Abergavenny Fine Foods Ltd is the market leader in the UK for retail and food services

- Frostkrone Food Group now has seven locations worldwide

- Total of five follow-on acquisitions since EMERAM Capital Partners joined in 2017

Munich/Rietberg, Germany, April 6, 2021 - Frostkrone Food Group, a portfolio company of private equity firm EMERAM Capital Partners and one of Europe's leading manufacturers of frozen finger food and snacks, has acquired UK food service company Abergavenny Fine Foods Ltd. The expansion strengthens Frostkrone Food Group's international presence and expands its product range. Abergavenny Fine Foods Ltd is seen as a market leader in the UK retail and food service sectors.

The company, based in South Wales, produces finger food and snacks for the frozen and fresh food sectors. In the free-from segment, which is currently in high demand, Abergavenny Fine Foods Ltd has a wide product range of vegan, gluten-free or lactose-free products. Customers include well-known global food and food service brands. Important export markets are Australia, Japan and the USA. The current Managing Director Jason Rees will continue to lead Abergavenny Fine Foods Ltd in the future.

Dr. Christian Näther, founding partner of EMERAM, says: "The successful expansion of the Frostkrone Food Group confirms our positioning as a business development partner. EMERAM enables sustainable growth with its expertise and capital strength. Since our investment in 2017, we have now been able to realize the fifth follow-up acquisition and achieve double-digit annual sales growth. As a result, we have further developed the Frostkrone Food Group into a global player with seven locations worldwide and around 800 employees. Our comprehensive commitment to the portfolio companies will benefit employees, customers and investors alike."

Frédéric Dervieux, CEO of Frostkrone Food Group, added: "The finger food and snack market continues to expand and we want to grow significantly as an innovation leader. The 'free from' market in particular holds great potential worldwide. Our group of companies was already able to establish a good position here last year. With Abergavenny Fine Foods, we now have a strong partner in our team with great know-how as well as excellent business relations to Australia and Japan."

Jason Rees, Managing Director of Abergavenny Fine Foods Ltd, comments, "We can make new international business contacts and at the same time become part of a group of companies that knows and understands the finger food and snack market like no other. We will certainly benefit from this."

The purchase price is subject to confidentiality. EMERAM was advised on this acquisition by PwC (Tax & Financial Due Diligence) and GLNS, Brodies and Shearman & Sterling (Legal).
 

ABOUT EMERAM CAPITAL PARTNERS - www.emeram.com

EMERAM is one of the leading investment companies for medium-sized companies in the German-speaking region. Funds advised by EMERAM currently provide 400 million euros of capital for the development of companies. The portfolio includes companies from the consumer, technology/software and services sectors.

EMERAM acts as a long-term business development partner for its companies, promoting the sustainable growth (organic and inorganic) of the portfolio companies. Together, the team has successfully closed more than 60 transactions and supported the development of portfolio companies by serving on more than 50 advisory and supervisory boards. EMERAM was founded in 2012 as an independent partnership in Munich.

ABOUT FROSTKRONE FOOD GROUP - www.frostkrone.de

Frostkrone - headquartered in Rietberg, North Rhine-Westphalia - specializes in the production and distribution of frozen finger food and snack products. Since its founding in 1997, the company has established itself as an innovative pacesetter in the field of convenience frozen foods.

In addition to Frostkrone Tiefkühlkost GmbH and Bornholter Käsevertriebs- und Produktionsgesellschaft GmbH, Piz'wich Europe SAS and Varenne Gastronomie SAS have been part of the Frostkrone Food Group since 2018. In 2019, the U.S. company Rite Stuff Foods, Inc. joined the group. Innovate Foods Ltd. from the United Kingdom has also been part of the group since February 2020.

The Frostkrone Food Group is characterized by a wide finger food and snack variety and sells its products in the food retail and food service sectors. The diverse product range is available worldwide, including in Scandinavia, the Netherlands, France, Spain, Portugal, the UK, Switzerland, Eastern Europe, Asia and the USA. Frostkrone Food Group has several modern production facilities in Germany, France, the UK and the United States.

ABOUT ABERGAVENNY FINE FOODS LTD

Abergavenny Fine Foods Ltd is a market leader in UK retail and food service. Based in South Wales, the company employs a total of 200 people at its new factory built in 2016. Here, Abergavenny Fine Foods Ltd produces finger food and snacks for the frozen and fresh sectors. In the free-from segment, which sees strong demand at present, the company scores with a trendy product selection and well-thought-out recipes. Its customers include well-known global food and food service brands. Important export markets are Australia, Japan and the USA.
 

Media contact EMERAM Capital Partners:

WMP EuroCom AG
Christian Dose: Tel.: +49 (0)69 2475 689 491 | Email: emeram@wmp-ag.de
Susanne Horstmann: Tel.: +49 (0)89 2488 331 02 | Email: emeram@wmp-ag.de

Media contact Frostkrone Food Group:

Stefanie Kastell: Tel: +49 (5244) 9036-210, +49 (170) 905 80 59 | presse@frostkrone.de
 

EMERAM Capital Partners | Mühlbaurstraße 1 | 81677 München | Germany | www.emeram.com