1 December 2021
Early December 2021, Van der Kroon Food Products successfully completed the acquisition of family business N.W. van Ruiten BV (NVR) and was able to place the necessary (acquisition) financing with the new house bank ABN Amro. The acquisition of NVR, with its very strong brand name, offers Van der Kroon the opportunity to grow, while continuing to operate both powerful brand labels. Integrated Finance Solutions (IFS) advised and guided Van der Kroon Food Products throughout the entire acquisition and refinancing process.
Van der Kroon Food Products
In 1932 Gijs van der Kroon laid the foundation for a family tradition and started preserving, processing and pickling vegetables in a small factory in south Amsterdam. Van der Kroon Food Products has now grown into being a specialist in processing fresh vegetables into pickles, each with a unique sweet-sour taste. The Van der Kroon family has been producing these high-quality products for four generations now. Due to the strong family ties, Van der Kroon has a close-knit team of about 40 permanent employees and the necessary temporary workers during peak times. The company works exclusively with fresh and pure quality products that have been produced with care, meeting all the necessary and recognised quality labels and certification. Amsterdam onions, sour bombs, Indonesian atjar, pickles, sweet and sour salads or piccalilli, are all trends and innovative products that Van der Kroon Food Products has brought onto the market over the years.
N.W. van Ruiten (NVR)
Since 1875, the Van Ruiten family has been trading vegetables and preserves grown in the South Holland area. Founded by Hein van Ruiten, his son Siem and later his son Nico continued this trade furthering from all the knowledge handed down. In 1954 Nico set up the company N.W. van Ruiten BV (NVR) and Mike and Jerry van Ruiten, being the next generation, have made NVR a company that specialises in canning a wide range of top quality preserves for catering wholesalers and the vegetable trade. All preservation knowledge was passed on from generation to generation, as well as the unique recipes for the various sweet-and-sour products, which turned out to be straight hits.
Acquisition
Since 2018, Van der Kroon Food Products expressed the wish to expand the Food Products branch in a five-year plan for the period 2020 to 2025 at a strategic level. More emphasis was placed on further growth of turnover, both organically and through mergers and acquisitions. With the strategic acquisition of NVR, Van der Kroon creates a variety of commercial benefits in both product range and packaging. The culture within Van der Kroon Food Products and NVR is comparable, as they are both two family businesses with a no-nonsense approach. The sales channels of Van der Kroon Food Products and NVR are now bundled, with an assortment expansion and a larger customer base in the Netherlands, Belgium and the United Kingdom. With this acquisition, Van der Kroon Food Products can realise its strategic plan.
More information?
For more information please contact Integrated Finance Solutions at +31 30 7602110.
