Buitenfood BV, owner of NewForrest BV (known for its brands Kwekkeboom Oven and Buitenhuis mini-snacks) has reached an agreement with the management on taking over 100% of the shares in NewForrest BV. The transaction is to take the form of a management buyout. With the sell of NewForrest, NPM, the investor behind Buitenfood BV, is pulling out of the Dutch snack industry, a sector in which the investment company had been successful for over 10 years.
The sale of NewForrest to the management follows the recent successful sales by Buitenfood BV of subsidiaries Tjendrawasih BV to Dutch Bakery in September 2016 and Royaan BV (including brands like Van Dobben) to Van GelovenMcCain in December 2016. NewForrest BV was relaunched at the end 2016 as an independent spinoff of Royaan BV.
Under the leadership of current CFO Marcel de Backer, NewForrest took the initiative to take over the activities of Buitenfood via a management buy out.
Following the takeover, NewForrest BV will continue its activities from its plant and offices in Wijk bij Duurstede.
At the end of June Marcel de Backer, CFO of Royaan and NewForrest since 2013, will be taking over the role of CEO from Bart Bakker, who will be officially leaving the company on 1 September 2017. Bakker has been CEO of Buitenfood subsidiaries Royaan, Tjendrawasih and NewForrest since 2011. At his own request, he is not participating in the buyout, but supports the initiative. After his departure on 1 September he will be focusing on new activities in the food industry.
For the relatively young company NewForrest, this marks the start of an era in which it can focus independently on expanding the strong position it has now made for itself within the oven snacks (Kwekkeboom Oven) and appetizers (Buitenhuis) markets.
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