Belgian food group Ter Beke has acquired a 90 % stake in British competitor KK Fine Foods for an undisclosed fee. The current shareholders hold onto the other 10 %.
Complementary product range
KK Fine Foods manufactures frozen meals for the food service and retail industry, generating a 39.3 million euro turnover in the process. It still achieves double-digit growth, according to Belgian newspaper De Tijd. The company was founded thirty years ago by current CEO Leyla Edwards and is currently managed by her son Samir Edwards. He will stay on as managing director, as the company itself will remain independent and several of its products will be launched in the European market.
“Their most important items are lasagna and pasta meals, which is very complementary to Ter Beke’s current core product range. Food service is unexplored territory for Ter Beke and presents a wonderful opportunity to further develop ourselves as a group”, CEO Dirk Goeminne said. The deal shows that Ter Beke is still focused on acquisitions. It also acquired French Stefano Toselli, after several years of collaboration.
