H2 Equity Partners (‘H2’) is pleased to announce that it has sold Foppen, a leading producer of value added specialty smoked salmon products to Hilton Food Group Plc.
Hilton Food Group is an international multi-protein food group, with revenues in Excess of GBP 3 billion, with 5.000 employees. Foppen brings two well-invested, dedicated smoked salmon factories, an experienced management team and workforce. Foppen has generated revenues of circa EUR 140 million, and produces solid results and a strong cash-flow.
Philip Heffer, Hilton’s CEO commented: “The acquisition of Foppen is an exceptional opportunity for Hilton and another step toward our goal of becoming the global protein partner of choice. Foppen’s premium product portfolio and strong customer relationships are a great fit for Hilton’s model. We welcome Foppen’s management and employees and look forward to delivering profitable growth through the combination of Hilton and Foppen.”
Andre van der Padt, CEO of Foppen, commented: “We are excited by the future prospects of Foppen under Hilton’s ownership, and look forward to work with Philip and his team. Foppen’s offering to customers, suppliers and employees will be enhanced as part of Hilton Food Group.”
Gert Jan van der Hoeven, Managing Partner at H2 Equity Partners, commented: “We are proud of the accomplishments of Foppen over the last years with the improved focus on specialty salmon products. The company has been transformed into a rapidly growing business, with a unique position in North America and the Far East. ”
H2 was advised by Rabobank, Deloitte and Houthoff.
Foppen is a leading international manufacturer of branded and private label premium smoked salmon products with proprietary processing capabilities. The business was founded in 1918 by the Foppen family, and was acquired by H2 Equity Partners in 2018. Since 2020, Foppen has focused exclusively on salmon and increased its focus on specialty products, like toast salmon. The Company operates two factories in Harderwijk (the Netherlands), and in Preveza (Greece). Foppen has 500 employees.
About H2 Equity Partners
H2 Equity Partners, founded in 1991, is an independent investment firm. H2 focuses on medium sized companies that are uniquely positioned and provide significant growth potential. H2 offers these businesses a combination of capital and active management support to realize untapped potential. H2 has a robust, multi-sector track record in building stronger companies, with a sustainable competitive advantage and profitable growth.