U.S. buyout house Clayton Dubilier & Rice (CD&R) has bought German sausage casings maker Kalle from Silverfleet Capital, the companies said on Friday.
Terms of the deal were not disclosed, but two sources familiar with the process said the price was towards the upper end of 450-500 million euros ($512-569 million).
Kalle was purchased by Silverfleet in 2009, and had turnover of more than 281 million euros last year.
In March 2010, Silverfleet syndicated part of its investment, with British private equity firm Electra investing 9 million pounds ($13 million) in the business. Electra has also sold its stake.
Reuters reported in September that Rothschild was advising on a possible sale or IPO.
“Because of the turbulent stock markets we decided against a listing that we had worked on for long, and concentrated on the sales process,” Guido May, a partner at Silverfleet, told Reuters.
“A new owner with deeper pockets than we had can develop Kalle further. For example, the U.S. market would deliver great opportunities for growth.”
($1 = 0.8783 euros)
($1 = 0.6859 pounds)
By Freya Berry and Alexander Huebner
Source: Reuters
Currently chief executive of GreenV – an international group of companies active in the horticultural sector – van Karnebeek spent a large portion of his career at Heineken, working in commercial, marketing and general management positions. He served as chief commercial officer at the Dutch brewer from 2015 until 2021.
The facility combines the existing Kerry office in Barcelona with a new customer suite and application labs. It will enable the company to work more closely with its customers in Southern Europe to develop food and beverage solutions.
The sweet and culinary flavor creation labs are the latest addition to the company’s expansive campus that has been in operation since 1964, spanning more than 312,150 square feet in Brabrand, Denmark. The innovation hub is home to more than 400 employees engaged in research, application development, ingredient and flavor creation.
