Press & news

April 6th 2021 - Press Release

Private equity firm EMERAM: Portfolio company Frostkrone Food Group strengthens international presence with acquisition of Abergavenny Fine Foods Ltd

  • Abergavenny Fine Foods Ltd is the market leader in the UK for retail and food services 
  • Frostkrone Food Group now has seven locations worldwide
  • Total of five follow-on acquisitions since EMERAM Capital Partners joined in 2017

Frostkrone Food Group, a portfolio company of private equity firm EMERAM Capital Partners and one of Europe's leading manufacturers of frozen finger food and snacks, has acquired UK food service company Abergavenny Fine Foods Ltd. The expansion strengthens Frostkrone Food Group's international presence and expands its product range. Abergavenny Fine Foods Ltd is seen as a market leader in the UK retail and food service sectors. 

The company, based in South Wales, produces finger food and snacks for the frozen and fresh food sectors. In the free-from segment, which is currently in high demand, Abergavenny Fine Foods Ltd has a wide product range of vegan, gluten-free or lactose-free products. Customers include well-known global food and food service brands. Important export markets are Australia, Japan and the USA. The current Managing Director Jason Rees will continue to lead Abergavenny Fine Foods Ltd in the future.

Dr. Christian Näther, founding partner of EMERAM, says: "The successful expansion of the Frostkrone Food Group confirms our positioning as a business development partner. EMERAM enables sustainable growth with its expertise and capital strength. Since our investment in 2017, we have now been able to realize the fifth follow-up acquisition and achieve double-digit annual sales growth. As a result, we have further developed the Frostkrone Food Group into a global player with seven locations worldwide and around 800 employees. Our comprehensive commitment to the portfolio companies will benefit employees, customers and investors alike."

Frédéric Dervieux, CEO of Frostkrone Food Group, added: "The finger food and snack market continues to expand and we want to grow significantly as an innovation leader. The 'free from' market in particular holds great potential worldwide. Our group of companies was already able to establish a good position here last year. With Abergavenny Fine Foods, we now have a strong partner in our team with great know-how as well as excellent business relations to Australia and Japan."

Jason Rees, Managing Director of Abergavenny Fine Foods Ltd, comments, "We can make new international business contacts and at the same time become part of a group of companies that knows and understands the finger food and snack market like no other. We will certainly benefit from this."

The purchase price is subject to confidentiality. EMERAM was advised on this acquisition by PwC (Tax & Financial Due Diligence) and GLNS, Brodies and Shearman & Sterling (Legal).