VION to sell Oerlemans Foods to H2 Equity Partners

VION and H2 Equity Partners have announced that they have entered into an agreement for the intended sale of Oerlemans Foods to investment company H2 Equity Partners.

Oerlemans Foods is a manufacturer of frozen fresh vegetables, fruit and potato products.

The sale is a consequence of VION's revised strategy. Companies that are no longer part of the core activities are to be divested. Oerlemans Foods occupied an independent position within the VION Group.

H2 is looking forward to further reinforcing Oerlemans' excellent starting position both on the basis of its Dutch and Polish operations. Oerlemans Foods' Works Council has been informed about the proposed sale.

The parties expect to be able to complete the transaction during the second quarter of 2014 after obtaining the required statutory approvals. The takeover price will not be made public.

Oerlemans Foods

Oerlemans Foods is a specialised manufacturer and supplier of frozen fresh vegetables, fruit and potato products. The company has a turnover of approx. € 135 million and employs 740 staff. With a range of over 1,000 products and the brands Oerlemans, Keizer, Bio+ and Bauer, Oerlemans Foods focuses on the international foodservice, retail and industrial markets. The head office is located in Venlo NL and the company has production plants in the Netherlands and Poland. www.oerlemans-foods.com

VION

VION is an internationally operating, Dutch food company. VION Food produces and processes high-quality pork and beef products in the Netherlands and Germany. It supplies client-specific products and innovative products to retail, industrial and food service clients on its home markets in the Netherlands and Germany, and to the rest of the world. VION Food's approx. 13,000 staff achieved a turnover of € 6.5 billion. VION is not a listed company and has one shareholder, the Dutch Zuidelijke Land- en Tuinbouworganisatie (ZLTO), an agricultural and horticultural association with some 16,500 members. www.vionfoodgroup.com

H2 Equity Partners

H2 Equity Partners, founded in 1991, is an independent investment company with its head offices in Amsterdam. H2 has approx. € 500 million under management and invests in medium-sized companies in the Benelux, Germany and the UK. H2 adds value to its portfolio companies by providing not only capital, but also operational support and experience. H2 has a proven track record when it comes to creating strong enterprises with sustainable, profitable growth. www.h2ep.com