Nimbus Investment Fund has agreed to acquire chilled potato products maker CelaVita B.V. from McCain.
The deal, expected to close by mid-2024, is subject to certain closing conditions, including approval by the Dutch (Antitrust) Authority for Consumers and Markets (ACM), the company noted.
A wholly-owned subsidiary of McCain since 2012, CelaVita has been in business for more than 55 years.
It operates a production facility in Wezep, the Netherlands.
The acquisition will not have any direct consequence for growers as McCain will continue to source and supply potatoes to Nimbus for crop 2024.
'An Even Stronger Business'
Henk Dollekamp, managing director at CelaVita stated, "We are delighted with Nimbus' investment in CelaVita. We are confident that under the wings of Nimbus, together with the tireless efforts of the great CelaVita team, and after the successfully implemented strategy and plans at CelaVita over the last two years, CelaVita will become an even stronger business than it is today.”
Nimbus is a private investment company that has been active for close to 25 years throughout Europe, investing in companies that are at a crossroads in their development and ready for their next growth phase.
According to the investment firm, CelaVita has exhibited potential that can be realised through operational improvements, additional investments and growth and was, therefore, a logical choice.
The investment will help CelaVita emerge as a reliable partner for its customers, suppliers and workforce.
Last year, McCain Foods announced a $600-million (€560 million) investment in its Alberta-based Coaldale facility, which it plans to double in size.
The Canadian multinational frozen food company says the project is a 'significant economic boost' for the region, which will create 260 new jobs.
