23 October 2006 - KBC Private Equity NV and the AVEVE Group confirm the acquisition by a group of financial investors of industrial bakery, Q-Bakeries Belgium NV ('QBB').
QBB is a Belgian bakery group specialising in fresh bread and quality pastries. From its six production units in Diest, Heusden-Zolder, Morlanwelz, Kobbegem and Ardooie, QBB supplies supermarkets all over Belgium. It also supplies a group of its own shops and catering and food-service companies. QBB has an annual turnover of over €58 million.
The new investors include Parcom Ventures, the equity and venture capital provider of the ING Group, and Janivo Holding, an investment firm based in Zeist (NL). Parcom and Janivo are long-term investors with experience in the food industry. Parcom, for instance, has been a shareholder of Bakkersland Group in the Netherlands since 1999.
This investment is consistent with the investors’ strategy to step up their activities in the food industry. They intend to expand QBB’s activities in Belgium in fresh bread and patisserie products and boost activities in ‘bake-off’ products that are baked in shops or at consumers’ homes.
The acquisition of Q-Bakeries Belgium NV was initiated by Hayhill Capital Partners. Hayhill focuses on investments in the Benelux and is active in the development of a number of companies in the food industry.