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• EQT VI to sell Færch Plast, a leading provider of customized plastic packaging solutions for the food industry, to Advent International
• Færch Plast uses highly automated state-of-the-art production facilities and technology to provide customers with a uniquely tailored rigid plastic packaging offering
• During the ownership of EQT VI, Færch Plast has been transformed into a European leader within its target segments through organic growth, cost improvements, product expansions and increased scale from two add-on acquisitions

EQT VI Limited (“EQT VI”) has entered into an agreement to sell Færch Plast (or the “Company”) to Advent International (“Advent”). Færch Plast, headquartered in Holstebro, Denmark, was founded in 1969 and today offers leading plastic packaging solutions across Europe. The Company operates within three segments; Fresh Meat, Food-to-Go and Ready Meals, and today has leading positions within its target segments.

EQT VI acquired Færch Plast in 2014 with the ambition to drive continued organic growth across Europe, increase profitability through product optimization and explore M&A opportunities to gain immediate scale. During the ownership of EQT VI, Færch Plast successfully executed on these targets through:

• Strong continued organic growth through launches of new and innovative products
• Significant investments in the production platform, footprint optimization and sales force expansion
• Completion of two highly value accretive add-on acquisitions, and extracted significant cost and revenue synergies through implementation of best-practice production standards, an increased product offering and cross-selling
• Doubling the number of employees

As a result of the value creation initiatives driven under EQT VI’s ownership, Færch Plast has approximately doubled both revenue and EBITDA since the acquisition.

“Færch Plast has been fundamentally transformed from a local champion to a pan-European leader in the rigid plastic trays market during the ownership of EQT VI. This has been a tremendous effort, led by CEO Lars Gade Hansen and his entire organization. Through two highly value-accretive add-on acquisitions, Færch Plast has expanded its product offering across Europe and implemented best-practice production standards to realize significant synergies. With the current platform, we believe Færch Plast is ready for its next growth journey and further internationalization, and we are confident that Færch Plast will continue to succeed in the future” says Mads Ditlevsen, Partner at EQT Partners and Investment Advisor to EQT VI.

“During the sales process, we have been looking for a new owner of the same quality and reputation as EQT, who can help us develop our business further and take Færch Plast to the next level. With Advent, we are convinced that we have found the right global partner, and we are excited about the journey in front of us”, says Lars Gade Hansen, CEO of Færch Plast.

The parties have agreed not to disclose financial details of the transaction. The agreement is subject to customary anti-trust clearance and the transaction is expected to close in Q3 2017.

The sellers were advised by Credit Suisse, FIH Partners, Plesner, PwC and COWI.

Contacts
Mads Ditlevsen, Partner at EQT Partners, Investment Advisor to EQT VI, +45 33 12 45 36
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 36 billion in raised capital across 23 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More information: www.eqtpartners.com 

About Færch Plast
Færch Plast was founded in 1969 and is headquartered in Holstebro, Denmark. The Company is a provider of customized plastic packaging trays for the food industry and manufactures more than 5 billion trays annually. Færch Plast offers a full range of rigid plastic trays within Fresh Meat, Food-to-Go and Ready Meals, and today the Company has leading positions within its target segments across Europe. Færch Plast employs more than 1,100 people with local operations in more than 15 countries.

More information: www.faerchplast.com

Swander Pace Capital Sells Kicking Horse Coffee to Lavazza

Bedminster, NJ (May 24, 2017) – Swander Pace Capital, a leading private equity firm specializing in consumer products companies, has sold Kicking Horse Coffee, Ltd., the #1 organic and fair trade coffee roaster in Canada, to Luigi Lavazza S.p.A. in a transaction valuing the company at C$215 million.  The firm partnered with Co-Founder Elana Rosenfeld in 2012 and made the investment through its Branch Brook Holdings partnership with Jefferson Capital Partners and United Natural Foods, Inc.

During the last five years, Kicking Horse Coffee achieved industry-leading growth across North America and benefited from material investments in its business, particularly sales, marketing, and operations infrastructure.  Consumers in North America continue to seek a better coffee experience, and Kicking Horse Coffee has consistently delivered one for over twenty years, priding itself on offering an exceptional cup of coffee that can be brewed in one’s own home.

“Swander Pace and the rest of the Branch Brook team were the perfect partners for me when I sought help and wanted to grow my business beyond Western Canada.  I was not willing to sacrifice our values, culture, and uncompromising product quality standards,” said Elana Rosenfeld, Co-Founder and CEO of Kicking Horse Coffee. “The expertise they brought to the table was real, introduced in a respectful way, and truly helped us grow.  They also repeatedly demonstrated their integrity and approach to partnership.”

“It has been an absolute privilege to work with Elana, the team, and this incredible brand as we expanded its footprint in stores across North America.  The brand’s success and growth momentum in North America speaks for itself,” added Rob DesMarais, managing director at Swander Pace Capital. “We are now excited to watch the company thrive as it enters this new chapter with Lavazza.”

Linda Boardman, President of Branch Brook Holdings, added further, “We are genuinely pleased by this outcome with Kicking Horse Coffee as it has been a real pleasure to work with such a passionate and committed group of people.  This milestone demonstrates the breadth of resources that our team can bring to the table to capitalize on a company’s strong foundation, accelerate its growth, and create a truly sustainable market position, all while preserving the brand’s quality commitment.”

About Swander Pace Capital 

Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to
consumers’ lives. SPC’s consumer industry expertise informs the firm’s strategic approach and
adds value through access to its proven SPC Playbook, senior team, and extensive network. The firm partners with management teams to help build companies to their full potential. SPC invests in businesses across three domains of consumer lifestyles: Food & Beverage, Body & Wellness, and Home & Family. With offices in San Francisco, New Jersey, and Toronto, SPC has invested in more than 45 companies and raised cumulative equity commitments of approximately $1.8 billion since 1996. For more information, visit www.spcap.com.

About Branch Brook

Branch Brook Holdings, LLC represents a strategic partnership formed in early 2012 between Swander Pace Capital, Jefferson Capital Partners, and United Natural Foods, Inc. to make investments in organic, natural, and specialty consumer product companies.  Branch Brook works closely with the owners, founders, and management teams of its companies to provide the capital, resources, distribution support, and strategic guidance they need for its businesses to grow.  Kicking Horse Coffee was the first investment made by Branch Brook.  Subsequently, Branch Brook has made investments in Oregon Ice Cream, which owns the two leading organic ice cream brands in the US (Alden’s and Julie’s), and Reliance, which owns PlantFusion, a leading plant-based protein powder and beverage brand in the natural channel.  Branch Brook represents an extension of Swander Pace Capital and has full access to all of these resources.  For more information, please visit www.branchbrookllc.com.

About Kicking Horse Coffee

Kicking Horse Coffee, Ltd. is based in Invermere, British Columbia (Canada) and celebrated its 20 year anniversary as a company in 2016.  Kicking Horse Coffee remains a pioneer of whole bean and fair trade coffee in Canada and is best known for its distinctive coffee blends and unique brand personality.  The Company was recently named the #10 Best Place to Work in Canada.  For more information, visit www.KickingHorseCoffee.com.

Media Contact:

Jeff Segvich

LANE, a Finn Partners Company (on behalf of Swander Pace Capital)

Phone: 503.546.7870

jeff.segvich@finnpartners.com

Paris, Huizen – 23 May 2017. French agricultural cooperative group InVivo Group (www.invivo-group.com) intends to buy a 100% share in the Dutch-based Baarsma Wine Group (www.baarsma.com). The company has reached an agreement to this effect with Baarsma Wine Group’s current shareholders, private equity firm AAC Capital Partners, and the management. Over the next few years, InVivo Group wishes to grow its international wine activities both autonomously and through acquisitions. The intended acquisition will be submitted for approval by the Competition authority. Neither company is disclosing financial details of the transaction.

InVivo Group, with an annual turnover of €6.4 billion and 9,200 employees, has a presence in 31 countries across the globe. Its activities are concentrated within four divisions: Agriculture, Animal Nutrition and Health, Retail and Wine. The wine division, InVivo Wine, already has stakes in various French wine companies and commercial activities in Asia and North America. Representing an annual turnover of approximately €348 million, the focus is on the production and bottling of wines and the market representation of over 23 cooperatives (3500 wine makers). Vinadeis (www.vinadeis.fr), as part to its wine division, has bottling and packaging facilities for wines that, under various brand names, mainly reach the French domestic market. Cordier is developing an outstanding range from Bordeaux with a modern approach and Mestrezat is specialised in Grands Crus wines.

The Dutch-based Baarsma Wine Group is a European leader in wine imports and distribution. The group has an annual revenue of approximately €210 million, 250 fulltime employees and is active in the Netherlands, Belgium, the UK, Switzerland and South Africa. The strength of the company lies in marketing wines nationally and internationally to retail, the hospitality and foodservice sector, specialist stores and in some countries directly to consumers. The product portfolio includes wines of internationally renowned and successful wineries, own brands and private label wines for supermarkets and foodservice companies. In addition to sourcing, distribution, sales and marketing, Baarsma Wine Group also runs its own bottling facility in Zaandam, the Netherlands, and produces and bottles some of its wines in Switzerland and South Africa.

Commenting on the intended acquisition, Mr Bertrand Girard, Managing Director of InVivo Wine, said: ‘InVivo Wine’s strategy is to accelerate its development internationally so as to build access to markets and create added value for the wine industry from grapes to consumers. Baarsma will be a key distribution platform for InVivo Wine in Europe and will perfectly complement existing footholds and those currently in development within the group, especially in Asia and North America. With Baarsma, 80% of InVivo Wine’s current operations will be international, aiming to achieve a turnover of 500 million euros by 2020 on the international scene.’

Mr Cees de Rade, Managing Director of Baarsma Wine Group, looks forward to working with the new shareholder: ‘This acquisition is good news for our people in the first place. We think that Baarsma Wine Group stands to benefit from bringing on board a strategic shareholder who shares our international ambitions. InVivo Wine and Baarsma Wine Group complement each other well in the wine supply chain. Our joint growth plans are very ambitious. However, with our existing suppliers and customers it will mostly be business as usual.’

InVivo Wine and Baarsma Wine Group , subsidiaries included, will continue to operate autonomously and under their own names. There will not be an organisational merger. In the years to come, the expansion outside of France will be driven mainly from the Netherlands, with a leading role for the management of Baarsma Wine Group. Mr Cees de Rade (CEO) and Mr Ed van der Sluijs (CFO), will also become members of InVivo Wine’s Executive Committee, chaired by Bertrand Girard.

Both companies expect to complete the acquisition by early summer.

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