The two Belgian frozen food companies, Ardo and Dujardin Foods, announced the signing of a merger agreement, subject to approval by the relevant competition authorities.
As part of the transaction, NPM Capital, a private equity firm which held a minority stake in Dujardin Foods is selling its stake. In the new Group 100% of the shares will be owned by the Haspeslagh families.
“Joining two complementary companies, where the owners are already closely related, is a natural step that prepares us for the future and ensures that the business remains family-owned. With our similar approach to business and common desire to combine entrepreneurship and professionalism, I am confident that we will create a cohesive company. This announcement is excellent news for all stakeholders.” said Jan Haspeslagh, CEO of Ardo.
The merger is meant to create a robust working platform that enables the business to operate sustainably in the frozen vegetable, fruit and herb sector for years to come, and to lay the basis for a third-generation, professionally-managed family business. Both organisations will continue to operate independently, led by Jan Haspeslagh for Ardo, and Rik Jacob for Dujardin Foods, whilst the integration planning is undertaken.
The future Board, chaired by Philippe Haspeslagh, will consist of family representatives and two independent directors. The new group will take the name Ardo.
“The new Ardo will be an even greater company with a unique European footprint of large scale, specialised plants, sound agricultural expertise, professional management and an entrepreneurial attitude.”, said Rik Jacob, CEO of Dujardin Foods.