Sveltic aquired by What's Cooking?
Sveltic aquired by What's Cooking?
Transaction
Overview
Spayne Lindsay & Co. is delighted to announce they have advised What’s Cooking?, a European savoury ready-meals group headquartered in Belgium, on the acquisition of Sveltic, a subsidiary of Agromousquetaires, the industrial arm of Intermarché.
Sveltic is a France based producer of frozen and chilled ready meals, with a production facility located close to Rennes. Sveltic has a turnover of approximately EUR 55 million and produces a wide range of ready meals complementary to the product range of What’s Cooking? and fully aligned with the growth strategy of What’s Cooking?
Piet Sanders, CEO of What's Cooking? said, "We are delighted to welcome the Sveltic team to our family and are very much looking forward growing together. This acquisition fits perfectly with our growth strategy and will allow us to broaden our product range with the delicious products of Sveltic. We are looking forward to continuing the supply to Intermarché as well as growing the business with other customers.”
The transaction will immediately contribute to the EBITDA of the What’s Cooking Group. The debt-free, cash free enterprise value of the acquisition amounts to EUR 29 million.
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