Private Equity Disposal
Food & Beverage
Spayne Lindsay & Co. advised Premier Foods plc on the disposal of Jonker Fris.
Premier Foods plc (“Premier Foods”) has sold Jonker Fris to NPM Capital B.V. (“NPM Capital”), a Dutch private equity firm. Jonker Fris, based in The Netherlands, manufactures and sells canned vegetables and fruit principally for private label customers in The Netherlands and Germany.
The sale of Jonker Fris was integral to a more complicated transaction, whereby NPM Capital, in conjunction with Mr Carel van Bemmelen, simultaneously acquired HAK B.V., Heinz’s Dutch preserved vegetable business, as part of a strategy to build a portfolio of traditional Dutch brands.
Spayne Lindsay & Co. originated the idea of a simultaneous transaction and acted as the conduit for ongoing discussions between Premier Foods, Heinz and NPM Capital. The transaction provided an expedient and successful solution for both Premier Foods and Heinz to exit their non-core Dutch businesses.
Terms of the transactions were not disclosed.