Ad van Geloven

Ad van Geloven manufactures frozen snacks including croquettes, satay, spring rolls and cheese soufflé. Approximately 80% of its sales are to customers in the ‘out of home’ market. The remainder of the company’s revenue comes from sales of its products direct to the consumer through major food retailers. GEM Benelux acquired Ad van Geloven from Greencore Group plc.

Key attributes of Ad van Geloven were its market leadership in the Benelux frozen snacks business, its strong and stable cash generation capacity, and a strong buy and build opportunity.

In April 2002 management and GEM Benelux realised the follow on acquisition of Van Lieshout from Unilever, a business that complemented Ad van Geloven’s product portfolio very well, and which had significant synergy potential.

After a successful integration of Van Lieshout, GEM Benelux was approached by Egeria regarding a secondary buyout, and in February of 2004 Ad van Geloven was successfully exited.