Ardian divests stake in German food firm frostkrone to Emeram Capital Partners
Ardian has divested its stake in Germany-based food company frostkrone for an undisclosed sum to Emeram Capital Partners.
frostkrone, which was established in 1997, manufactures frozen finger food and snack products in Europe.
The company plans to continue the successful growth strategy started under the ownership of Ardian.
frostkrone's product portfolio is based on cheese, fish, vegetables and meat. It sells its products in food retail outlets and in the food service sector.
frostkrone CEO Frédéric Dervieux said: "Since 2013 we have taken comprehensive internal measures, such as establishing a new Innovation Department and professionalising our processes, to position frostkrone for future international growth.
“In recent years, frostkrone has established itself as Europe's innovation leader for frozen finger food, and it still has huge growth potential for the years to come.”
frostkrone also processes raw materials needed for the production of finger food items that include meat, cheese, poultry, fish, fruits and vegetables.
EMERAM Capital Partners founding partner Dr Christian Näther said: "In the frozen finger food market we are seeing many growth trends that apply to all sales channels in almost all countries. Frédéric Dervieux and his team have succeeded in building an outstanding position in this niche.
“As the undisputed leader in innovation and quality, frostkrone is uniquely placed to generate further growth in the European frozen finger food market.”
In 2012, Ardian had bought its majority stake in the frozen food company and since then is said to have supported it in its domestic and international growth strategy.
With two production facilities in Rietberg and Verl in Germany, frostkrone provides employment to 187 people.
The transaction would need an antitrust approval to move forward.
Image: Frost liver cheese in beer batter. Photo: courtesy of Frostkrone.