Lion Capital announces intention to acquire leading frozen snack brand Mora

Excerpt of Press Release from Lion Capital

Talks between Lion Capital LLP (“Lion Capital”) and Egeria Capital B.V. (“Egeria Capital”) have reached an advanced stage, resulting in Lion Capital announcing its intention to acquire Advang Holding B.V. (“Ad van Geloven”), owner of Mora, the leading branded producer of frozen snacks and appetizers in the Benelux. Consultations with the Works Councils in the Netherlands will immediately commence, so that the Works Councils can render their advice in relation to the intended acquisition. The relevant trade unions will also be informed in due course. The intended transaction will be subject to the approval of the relevant competition authorities.

Founded in 1960 in Tilburg, Holland, Ad van Geloven is a leading producer of frozen meal components with strong market positions in both the foodservice and retail channels across the Benelux. The company produces various meat ragout products (such as croquettes and bitterballs), minced meat products (such as frikandels and hamburgers), spring rolls, and satay, bami and nasi products. Its branded operations are anchored by flagship brand, Mora, which was acquired from Unilever in 2006. Mora is the most recognised frozen snack brand in the Benelux region and holds leading positions in all segments of the category.

In addition to owning the leading brand in the category, Ad van Geloven is regarded as one of the leading foodservice and private label manufacturers of frozen meal components. Headquartered in Tilburg, Ad van Geloven employs more than 900 people in five factories in the Netherlands and Belgium. In 2007, the company generated net sales of over €170 million.

Lyndon Lea, Partner of Lion Capital, said:

“Lion Capital is delighted to be investing in the market leader in the Benelux meal components category. Consumers want meals and snacks that are convenient without sacrificing quality and the Mora brand has a strong heritage of delivering convenient food products of the highest quality to consumers. As with our investments in other market-leading food businesses, we will seek to realize the full potential of this tremendous brand through innovation and investment across the product range and vigorous leadership of the frozen food category in our core markets.”

Peter Visser, Managing Partner of Egeria, said:

“We have been delighted with the success that Ad van Geloven has achieved under our ownership. With Lion Capital’s deep experience in the consumer sector, Ad van Geloven is in good hands to enjoy the next phase of its growth.”

Hans Vermeulen, CEO of Ad van Geloven said:

“We are pleased to be partnering with Lion Capital who brings a unique depth of understanding and experience with investing in branded food businesses as well as the food service sector. We believe that the combination of our strong brand profile together with Lion Capital’s proven track record in working with similar food businesses will enable us to develop our portfolio and reinforce our leading position in our target geographic and product markets.”

Lion Capital was advised by Stamford Partners, and Weil Gotshal and HouthoffBuruma on legal matters.

Egeria was advised by Atlas Advisors and Rabobank Securities, and Stibbe on legal matters.

Atlas Advisors is the marketing name for Atlas Advisors, LLC and Atlas Strategic Advisors, LLC. Atlas Strategic Advisors, LLC provides financial advisory services in connection with mergers, acquisitions and other similar transactions. Atlas Strategic Advisors, LLC is a wholly owned subsidiary of Atlas Advisors, LLC and a member of the FINRA.

None of the information contained in this release constitutes a recommendation, solicitation or offer by Atlas Strategic Advisors, LLC or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.