The IDAK Food Group, which specializes in premium frozen food, is undergoing a change of ownership. The London and New York-based investment company TowerBrook Capital Partners replaces the previous financial companies Invision and Nord Holding as the new majority shareholder (subject to regulatory approval). The investment aims to strengthen IDAK’s rapidly growing capital base for the growth of its companies and further acquisitions in Europe. The well-established management team around IDAK Food Group CEO Christof Lehmann will retain a broad-based minority stake in the company.
The IDAK Food Group, previously owned by the financial companies Invision in Zug, Nord Holding in Hanover, LGT and the management, is a strongly networked group of specialized companies and manufacturers in the premium frozen food sector. It is growing rapidly, both organically and through strategic acquisitions in Switzerland and abroad, even in a challenging economic environment, and is extremely successful in the market. The company sees further potential for selective acquisitions in Europe in order to expand existing business areas or develop additional ones.
Following a carefully managed selection process, IDAK is therefore strengthening its capital base (subject to regulatory approval) with the new anchor shareholder TowerBrook Capital Partners, an established transatlantic investment company. “Our goal is to establish ourselves as the leading pan-European premium frozen food group,” said Christof Lehmann, CEO of IDAK Food Group.
“We are delighted and proud to have gained such a renowned investment company as a new majority shareholder in TowerBrook. This step confirms and continues our successful strategy. With its extensive expertise and international business excellence, TowerBrook is the ideal partner to support us in our next development steps and growth targets,” added Lehmann.
José Arellano and Paolo De Bona of TowerBrook said: “We are delighted to be working with the leadership team at IDAK. We have been following the impressive development of this company for several years and are convinced that with our broad experience we are the right partners to support the well-established management team in IDAK’s next phase of growth, organically and via new acquisitions.”
Marco Martelli, Partner at Invision, adds: “It has been a great honor to work with the IDAK management team. Over the last 5 ½ years, IDAK has grown strongly organically and through selective acquisitions in Switzerland and abroad. We would like to thank the entire IDAK team and wish them all the best and every success in their new partnership with TowerBrook.”
Continuity in management is maintained
All companies belonging to the IDAK Food Group are independent, established and successful in their markets. These corporate principles and the associated continuity will be maintained. “Our new investors share our vision and our commitment to long-term stability,” confirmed Lehmann.
Continuity is also a priority for the management. This is underpinned by the minority shareholding, with which the Group management around long-standing CEO Christof Lehmann and the management teams of the companies continue to hold a substantial and broadly supported minority stake in the company.
About IDAK Food Group
The IDAK Food Group includes KADI AG in Langenthal and Margherita Srl in Italy, as well as Romer’s Hausbäckerei in Benken SG. The group makes it possible to make strategic acquisitions. IDAK’s aim is to further expand a strongly networked growth platform of specialized companies and manufacturers in the premium frozen food sector in Europe. IDAK currently consists of the three segments “Potatoes & Snacks”, “Pizza & Pizza Snacks” and “Baked Goods & Snacks”. In 2023, the Group employed around 1,000 people and generated sales of around CHF 250 million.
About TowerBrook
TowerBrook Capital Partners is a purpose-driven, transatlantic investment management firm that has raised in excess of $23.9 billion to date. As a disciplined investor with a commitment to fundamental value, TowerBrook seeks to deliver superior, risk-adjusted returns to investors on a consistent basis, guided by TowerBrook Responsible OwnershipTM principles which are central to the firm’s value creation strategy. TowerBrook partners with talented, experienced managers and senior advisors who share the firm’s values and support its investment objectives, providing capital and resources to transform the capabilities and prospects of the businesses in which it invests, driving better outcomes for all stakeholders. TowerBrook takes an entrepreneurial, multinational, single-team approach and since inception in 2001, has invested in more than 90 companies on both sides of the Atlantic. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation, demonstrating leadership in its commitment to environmental, social and governance (ESG) standards and responsible business practices.
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