GIMV Doubles Scana Noliko

GIMV has doubled its ownership position in Scana Noliko, a Belgian producer of private-label preserved food, from 46.3% to 92.6 percent. The seller was Limburg investment company LRM.

 

PRESS RELEASE

Scana Noliko (www.scana-noliko.be), located in Bree (Belgium), is a major European producer of preserved vegetables and fruits, meals, soups and sauces in bottles, cans and synthetic packaging. The company chiefly produces private label products. 80 percent of its production is exported, mainly to EU companies. The company has about 540 employees and works with over 300 Belgian, Dutch and German farmers. In its 2007-2008 financial year it had sales of around EUR 135 million.

 

GIMV entered the capital of Scana Noliko in 2004. LRM, an investment company focusing on companies in the Belgian province of Limburg, became already shareholder in 2000. GIMV is now buying out LRM, in this way doubling its stake in Scana Noliko from 46.3% to 92.6%. The parties involved have decided not to disclose any further financial details on this transaction.

 

Dominiek Stinckens, general director of Scana Noliko: “During the past eight years Scana Noliko has known an important growth, both what turnover and employment are concerned. This is largely thanks to the personnel of Scana Noliko, but also thanks to the excellent cooperation with the management of LRM and, since 2004, with GIMV. Scana Noliko has therefore strong faith in the continued partnership with GIMV.”

 

GIMV doubles its shareholding in Scana Noliko from 46.3% to 92.6% after taking over the stake of LRM, the investment company for Limburg, in this company. Scana Noliko is a leading Belgian private label producer of preserved food.