GIMV acquires stake in Dutch De Groot International

08-11-2005 07:30

Following the earlier announcement of October 6th, GIMV announces that it has acquired, through its Dutch subsidiary Halder, a stake in De Groot International (www.degroot-int.nl). Negotiations have been successfully completed, with GIMV and the existing management team acquiring an interest in the enterprise alongside the De Groot family. The background for this transaction is the forthcoming retirement of former manager and major shareholder Marius De Groot. The transaction has being undertaken together with the present management team of De Groot International (including sons Ben and William De Groot). The new and existing shareholders will be continuing the current successful strategy.

De Groot International is an international company, which imports, distributes and exports fruit and vegetables. What began 50 years ago as a one-man fruit trading operation has grown into a leading organization with over 100 employees. In 2004 De Groot International realised a turnover of EUR 118 million. The headquarters is at Hedel (Netherlands), and customers come from around the world. Retail organizations are the major De Groot customers. As well as traditional trading and cold storage operations, De Groot International has computer-controlled banana ripening chambers, packaging lines and its own transportation enterprise.

All parties involved have decided not to release any further financial information.

For more information, please contact:
Mr. Frank De Leenheer – Investor Relations Manager GIMV
Tel: +32 3 290 22 18 – E-mail: frankdl@gimv.be
 

Dutch version - French version