IK Investment Partners’ seventh fund is understood to be about 60 percent invested having completed nine transactions. Its acquisition of Salad Signature from AAC Capital announced today will be the tenth deal when the transaction closes.
IK VII Fund is a €1.4 billion, 2013-vintage vehicle.
IK Investments, which targets mid-market investments in northern Europe and the Nordics, is acquiring the Belgium and Netherlands focused food company that manufactures spreadable salads for an undisclosed amount. The company generated revenue of €176 million this year and has about 490 employees.
Salad Signature was acquired by AAC in 2012 from Gilde Equity Management Benelux, which invested in turn in the company in 2006, according to reports.
“We are truly looking forward to support Salad Signature’s continuous development to drive international expansion and product innovation both organically and through acquisitions,” Remko Hilhorst, IK Partner and advisor to Fund VII said in a statement.
IK Investments’ previous investments in the food sector include in Polish dairy company Agros Nova, which it acquired in 2010 and fully exited in October this year, food ingredient maker Solina Group, acquired in 2011 and sold to Ardian Mid Cap Buyout in October, and France’s Snacks International, acquired in 2010 and sold in 2013 to Apax Partners, all through its €1.7 billion, IK 2007 Fund.