News

04 March 2024

Nimbus has agreed to acquire CelaVita

On the 1 st of March 2024, Nimbus entered into a purchase agreement with CelaVita B.V., a member of the McCain Group of companies, to acquire the activities of CelaVita.

Nimbus has agreed to acquire CelaVita

On the 1 st of March 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. "We are delighted with Nimbus' investment in CelaVita. We are confident that under th e 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,” said Henk Dollekamp, Managing Director at CelaVita. 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.

About McCain Foods
McCain Foods Limited is a family-owned business founded in 1957 in Florenceville, New Brunswick, Canada. Today, the company is the world’s largest manufacturer of frozen potato products and a global leader in prepared appetizers and snacks. Its products can be found in restaurants and retail stores in more than 160 countries around the world. The company has major production, retail, and corporate operations around the world, employs approximately 22,000 people, operates more than 50 production facilities on six continents, partners with 3,500 farmers and generates annual sales in excess of $14 billion CAD.