Bridgepoint acquires leading caterer Vermaat Groep
Frankfurt a. Main - Bridgepoint acquires a stake in Vermaat Groep B.V., the Dutch market leader for high-quality catering and hospitality services. Bridgepoint is acquiring a majority stake in the company from Swiss-listed financial investor Partners Group, which will remain a minority investor in the company.
Vermaat was founded in 1978 as a delicatessen and is a specialist in customized gastronomy. The company provides premium outsourced catering services to a variety of markets including corporations, museums, hospitals and travel centers. Today, Vermaat operates more than 350 food and beverage stores in the Netherlands, including restaurants, cafés and canteens, and also has an increasing presence in Germany. The company serves a number of high-profile customers and employs over 4000 people. Sales of €300 million are expected for 2019. Partners Group acquired Vermaat Groep B.V. from the founding family in 2015.
Olivier van Riet Paap, Head of Bridgepoint’s investment activities in Beneluxsaid: “Vermaat is a clear European leader thanks to its reputation for creativity in formats, quality and food innovation. In a fragmented European market which is underserved by larger groups, the Vermaat platform, working with Bridgepoint, will have the resources and international reach to further develop its German presence and to enter new markets across Europe.” The premium outsourced catering segment is the fastest growing segment in the larger catering market and is currently valued at over €2 billion within the combined Dutch and German catering markets valued at €13 billion.
Advisors Bridgepoint: Rothschild (Corporate Finance), EY (Financial and Commercial), WhiteSpace Partners (Commercial), Freshfields (Legal), ERM (ESG).