McCain Foods to sell CelaVita chilled potato business to private investment fund Nimbus

On March 1, 2024, Nimbus Investment Fund V Coöperatief U.A. ("Nimbus"), through a wholly owned holding entity, entered into a purchase agreement with CelaVita B.V. ("CelaVita"), a member of the McCain Group of companies ("McCain"), to acquire the activities of CelaVita.

The transaction is subject to certain completion conditions, including works council approval and approval by the Dutch (Antitrust) Authority for Consumers and Markets (ACM). Closing of the transaction is expected by mid 2024.

CelaVita, a wholly owned subsidiary of McCain since 2012, and a strong brand name in chilled potato products for more than 55 years, produces a wide range of high quality chilled potato specialty products at its production facility in Wezep, the Netherlands.

The chilled market segment has a less prominent position within McCain’s strategy. McCain has therefore concluded that CelaVita can grow better in a standalone situation.

Henk Dollekamp, Managing Director at CelaVita:
 

"We are delighted with Nimbus' investment in CelaVita. We are confident that under the wings of Nimbus, together with the tireless efforts of the great CelaVita team, and after the successfully implemented strategy and plans at CelaVita over the last two years, CelaVita will become an even stronger business than it is today."

The acquisition has no direct consequence for growers, as McCain will continue to source and supply potatoes to Nimbus for crop 2024.

Nimbus is a private investment company that has been active for close to 25 years throughout Europe. Nimbus invests in companies that are at a crossroads in their development and are ready for their next growth phase.

CelaVita has exhibited potential that can be realized through operational improvements, additional investments, and growth, and was therefore the logical choice for Nimbus.

The Nimbus team has relevant operational and strategic skills which has formed the basis of successful partnerships with management teams in over 100 investments since its inception. It also has significant experience in the (food)manufacturing industry and carving out non core business units from larger companies.

Nimbus is pleased to have the opportunity to invest in CelaVita. CelaVita is a household brand in a stable and interesting market. Through commercial development, new investments and operational improvements CelaVita will be a solid partner for its customers, suppliers and workforce.