"Ter Beke acquired 90% of the shares of KK Fine Foods PLC. The remaining 10% remain at shareholders. Ter Beke settled in the United Kingdom, the largest European market for cooked dishes. "
The valuation of KK Fine Foods was based on multiple that are common in the ready meals markets.
KK Fine Foods PLC produces and distributes fresh, frozen, ready-made meals in the foodservice and the retail market. With a turnover of EUR 39.3 million (million pounds) in 2016, the company is an important player in the dish market cooked. It takes a strong position in the United Kingdom and growth.
The current CEO and founder, Leyla Edwards, established her company in 1987, developed, cooked and sold new recipes in her own kitchen. His passion for cooking and working with chefs is deeply rooted in the DNA of KK Fine Foods. The foodservice business is its largest target group and interaction daily between chefs plays a crucial role. Today, the company is led by the son, Samir Edwards, who will remain Managing Director after the resumption.
Ter Beke invests in Europe's largest meals market According to Ter Beke CEO Dirk Goeminne, it was very important to a large market for ready meals. "KK Fine Foods are passionate developers and tasted their creations. This passion for food is exceptional and we must maintain it. That is why we have decided to allow KK Fine Foods to operate independently.
This choice offers the possibility of promote the development of KK Fine Foods by offering their products on the territory European and vice versa. The range of products is partially complementary. The main products are lasagna and pasta dishes, which complement the range of current base of Ter Beke. For Ter Beke, foodservice remains a land to be exploited, offering an ideal opportunity to develop as a group. "
Great ambitions for growth At the beginning of July, Ter Beke finalized the early takeover of the French company Stefano Toselli, thus becoming 100% owner of the Polish company Pasta Food Company too. The turnover thus increased by EUR 80 million per year. With KK Fine Foods, the cooked dishes division once again strengthens its position and repels
Last week, Ter Beke also announced his intention to resume business Unit Fresh of the Zwanenberg Food Group (Cebeco Meats Products Nederland BV). What should imply an increase of EUR 130.6 million for the deli meats division. Ter Beke is already moving towards a new future, focused on the strategic forces of both divisions, deli meats and cooked dishes.
With a total turnover of EUR 670 million, the group can be measured without any problem to the current major food concerns.
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