22nd July 2008 Lion Capital Buys Foodvest Parent company of Young’s Seafood/Findus sold in major deal It has been agreed today that private equity firm, Lion Capital will acquire the Foodvest Group from funds advised by CapVest Ltd. Foodvest is a major European food group with operations in the UK, Scandinavia, France and a growing presence in Central and Eastern Europe. The company has more than 6000 employees across 20 facilities in 5 countries and in 2007 generated over £1.0 billion of turnover. In the UK Young’s is the leading branded producer and distributor of seafood, with a 200 year old heritage of selling a wide range of high quality seafood products - both chilled and frozen - in retail and foodservice channels. Its market-leading products are staples of the British diet and include the Young’s Chip Shop range and Young’s Admiral’s Pie, the UK’s best-selling ready meal. Findus is the leading, branded frozen food manufacturer in Scandinavia, with market leadership in Sweden, Norway and Finland within each of the frozen ready meals, fish and vegetables segments in which it operates. Findus also has a strong presence in France, where it has the strongest brand recognition of any frozen food brand. The Seafood Company is a leader in the production of chilled, private-label seafood products in the UK, selling to all of the major UK multiples. It is Europe’s biggest processor of farmed Atlantic salmon. Per Harkjaer, chief executive of Foodvest, says; “With CapVest’s support we have brought the group to a powerful position, and this change of ownership is a logical next step in our development. Lion Capital’s specialist consumer experience will be helpful in taking the business to the next level. We have a strong track record and a solid strategy with robust forward plans, but more importantly we have great products and super people. This has made us an attractive food group - despite the current difficult economic climate. On behalf of everybody that works in the Group I am very proud of this deal at this point in time.” For more information please contact... Christine Solloway t. 0044 (0) 7974 232015 email: chris@wordbird.net < Back to Foodvest Homepage