©Hak
NPM Capital has signed a preliminary agreement to sell its stake in vegetable firm Hak to Russian food and snack company, KDV Group.
Founded in 1952, Netherlands-based Hak processes, preserves and sells vegetable- and legume-based products, including canned offerings, vegetables in jars and stand-up pouches containing meals or pulses.
KDV is a Russian vertically integrated food producer with a strong presence in the confectionery, chocolate and snack categories.
The company – which is backed by UFG Private Equity – is acquiring Hak as part of its plans for further international expansion and “diversification towards plant-based nutrition”.
KDV’s founder, Denis Shtengelov, said: “In addition to our existing activities, we want to set up a new division that specialises in plant-based nutrition in order to optimally exploit the global trend towards a healthier and more sustainable diet.
“For us Hak is not just a first foothold in Western Europe, it also has a strong, mission-driven strategy that is fully aligned with the new nutritional patterns and eating habits of tomorrow’s consumers.
“It already sells its products to a home market of 100 million consumers, mainly located in Northwest Europe. I want to work together with Hak’s management to accelerate the rate of growth in that market first.”
Hak CEO, Timo Hoogeboom, said: “Working together with KDV, we will accelerate our growth in international markets and fulfil our mission of helping people to eat more vegetables and pulses.
“After the summer, we will start working out the details of our joint growth plans. One thing is certain: we will be able to pursue our goals in a higher gear.”
Ivan Litvintsev, partner of UFG Private Equity, added: “Definitely, KDV will fuel the future growth of Hak and support its new initiatives. Over the last 14 years KDV has completed more than 15 transactions and proved itself as an efficient and reliable partner.”
The financial terms of the transaction have not been disclosed. The acquisition is subject to completion of the works council advice proceedings.
© FoodBev Media Ltd 2024