Egeria announces the sale of GoodLife Foods to IK Partners

Photo: Good­life Foods vege­ta­ble-based frozen products (Photo © Good­life Foods).
5. July 2023

Amsterdam/ Munich/ London — Egeria Capi­tal Manage­ment (“Egeria”) announ­ced that it has ente­red into a condi­tio­nal agree­ment to sell Good­Life Foods (the “Company”) to IK Part­ners (“IK”).

Good­Life Foods, head­quar­te­red in Breda, the Nether­lands, is a leading Euro­pean manu­fac­tu­rer of frozen snacks and meal compon­ents such as spring rolls, appe­ti­zers, burgers and cheese and vege­ta­ble bites. The company offers a wide range of bran­ded and private label products that it sells to retail, food­ser­vice and indus­trial custo­mers throug­hout Europe. Good­Life employs over 700 people in six produc­tion faci­li­ties in the Nether­lands, Belgium and Denmark.

Good­Life was crea­ted through the spin-off of Izico from Wessa­nen in 2014 and has evol­ved into a fully inte­gra­ted, leading Euro­pean plat­form for frozen appe­ti­zers. Under Egeria, the company acqui­red six compa­nies in three diffe­rent count­ries, follo­wed by years of strong orga­nic growth.

Under the exis­ting manage­ment team, Good­Life has grown in strength, and through its part­ner­ship with IK, the company will conti­nue to expand its product port­fo­lio with trendy frozen bites. Good­Life also plans to further acce­le­rate growth within and outside its core regi­ons through orga­nic initia­ti­ves and buy-and-build.

Dirk Van de Walle, CEO of Good­Life Foods, said, “We look forward to the next chap­ter working with the team at IK, which has vast expe­ri­ence in the food sector and can support us in our ambi­tious plans to inter­na­tio­na­lize through orga­nic initia­ti­ves and mergers.”

Remko Hilhorst, Mana­ging Part­ner at IK and advi­sor to the IK IX Fund, said, “We are impres­sed with GoodLife’s track record to date and its ability to conti­nuously evolve its product port­fo­lio to meet the needs of its clients. The company has a diver­si­fied offe­ring with further growth poten­tial to be tapped in the coming years. We look forward to working with Dirk and the team to grow the company on a solid foundation.

Sander van Keken, Part­ner at Egeria, stated, “It was a real plea­sure to work with Dirk, Kamiel, Willem and the entire Good­Life orga­niza­tion. We are proud that under our leader­ship Good­life has evol­ved from an outsour­ced company focu­sed prima­rily on the Bene­lux to a Euro­pean company with a much broa­der range of frozen snacks.”

About Egeria

We are prag­ma­tic and ratio­nal inves­tors who do not shy away from chal­lenges. We always perform at our best when we can add value through colla­bo­ra­tion and growth. We are a value-added part­ner every step of the way — with entre­pre­neurs, manage­ment teams or our large network of indus­try experts.

Our roots are in private equity, which remains the core of our busi­ness today. We have a passion for working with ambi­tious entre­pre­neurs and execu­ti­ves to accom­pany our port­fo­lio compa­nies on their growth and deve­lo­p­ment path — orga­ni­cally as well as through targe­ted acqui­si­ti­ons. We focus on compa­nies with growth and deve­lo­p­ment poten­tial in BENELUX and DACH with enter­prise values up to €350 million.


About IK Partners

Our unique approach allows us to selec­tively deploy our funds in compa­nies that have demons­tra­ted signi­fi­cant deve­lo­p­ment poten­tial in exis­ting and inter­na­tio­nal markets in the busi­ness services, health­care, consu­mer and indus­trial sectors. Our fund offe­ring enables us to support compa­nies at all stages of their invest­ment jour­ney, trans­forming natio­nal cham­pi­ons into inter­na­tio­nal leaders.

By part­ne­ring with us, execu­ti­ves can bene­fit from our pan-Euro­­pean invest­ment execu­tion capa­bi­li­ties and access support from our in-house opera­ti­ons, capi­tal markets and ESG teams. These teams are fully inte­gra­ted at every stage of the invest­ment process and help acce­le­rate the growth of our port­fo­lio companies.



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