Through its investment Buitenfood BV, NPM Capital has sold Tjendrawasih BV, the producer of Asian snacks, to Dutch Bakery Group. At the same time, Tilburg-based snack producer Van Geloven announced on 6 October 2016 that it is planning to acquire part of the brands portfolio of Buitenfood subsidiary Royaan BV, and will take over part of the food service activities and part of the retail business as a result.
The brands Van Geloven will acquire are: Van Dobben, Kwekkeboom (fried products under a brand licence), and the food service brands Laan, Willie Dokter and KB. Besides the brands, Van Geloven will also take over the three factories and the employees in Oostzaan, Wijk bij Duurstede (location Hogemaat) and Beuningen.
Buitenfood BV is selling Tjendrawasih to Dutch Bakery Group and its shares in Royaan BV to Van Geloven in order to concentrate on the further expansion of its Kwekkeboom Oven business, part of the Buitenfood subsidiary NewForrest B.V., which was incorporated specifically for this business in 2014. The Buitenhuis brand will remain at NewForrest B.V., as will the B2B appetizer business.
Expansion of the oven snacks category
NPM supported the strategic decision of Buitenfood’s management to sell its strong brands portfolio. Through its subsidiary NewForrest, the sale will enable Buitenfood to focus all its attention and available financial resources on the further expansion of the oven snacks category and the market for appetizers (mini-snacks).
With NPM’s support, Buitenfood has been investing heavily over the past three years in the internationally patented ‘crisp’ oven technology Crisp Sensation, used in the Kwekkeboom Oven snacks range. The introduction of this brand in 2014/2015 did not pass unnoticed. Besides winning virtually all the national and international food awards and recognitions, Kwekkeboom Oven launched a total of fifteen new products in its retail channel in 2015 and achieved close to 100% weighted distribution for its whole range.
“The investment in production, product development, marketing and sales over the past three years amounts to more than €15 million. The margins are healthy, but everything that Buitenfood subsidiary NewForrest earns is used directly for the expansion of the brand. By divesting a large part of its business, Buitenfood can now focus even more on the brand and the oven snacks category,” says Rutger Ruigrok, investment director of NPM Capital.
