Conclusion of share sale: Greenyard food group, global player in vegetables and fruit
Gimv was recently able to conclude the reduction of its participation in Greenyard, global market leader in vegetables and fruit, on Euronext Brussels (GREEN) with the sale of shares on the stock market.
In 2011, Gimv became a minority shareholder in PinguinLutosa via the Gimv-XL fund. With the objective of stimulating the further growth of successful Flemish companies to the next level and giving them the opportunity to achieve their ambitious plans, we were able, together with entrepreneur Hein Deprez and the Management, to realise the further expansion and growth of the company, first with the takeover of Scana-Noliko and later via the fusion with Univeg as well as many other investments in modern technology, capacity and other takeovers.
Today, the Greenyard group (www.greenyard.group) is the global market leader in vegetables and fruit with a client base comprised of the most important retailers in Europe. As a specialist in the processing and commercialisation of harvest-fresh vegetables, fruit and ready-made meals, the group is active in over 25 countries worldwide. With 9,000 employees and an annual turnover of approximately EUR 4.25 billion, it is, on an annual basis, one of the largest vegetable processors in Europe.
Over the entire 6 year investment period, this investment has resulted in returns that have exceeded the long-term average of Gimv. No further details about this transaction will be disclosed.