IDAK Food Group, a Switzerland-based manufacturer of frozen food, has undergone a change in ownership. London and New York-based investment company TowerBrook Capital Partners has acquired a majority stake in the business from previous owners Invision and Nord Holding. This strategic move, the financial details of which remain undisclosed, is aimed at bolstering IDAK’s capital base for expansion in Europe and potential acquisitions. This acquisition follows IDAK’s recent purchase of local frozen baked goods supplier Romer’s Hausbäckerei, indicating a clear growth trajectory for the company.
The management team at IDAK, led by CEO Christof Lehmann, will retain a significant minority stake in the business. Lehmann expressed the company’s ambition to establish itself as the leading pan-European premium frozen food group, highlighting a commitment to sustained growth and market leadership.
In a joint statement, José Arellano and Paolo De Bona of TowerBrook emphasized their confidence in IDAK’s management team and the company’s growth potential. They cited their extensive experience and expertise as the foundation for supporting IDAK in its next phase of development and expansion, both organically and through strategic acquisitions.
Apart from Romer’s Hausbäckerei, IDAK also owns other food brands such as local potato snacks manufacturer Kadi and Margherita, a frozen pizza business based in Italy. In the fiscal year 2022, IDAK recorded sales of SFr160m ($179.6m) and employed approximately 550 individuals, further solidifying its position in the food and beverage industry.
This acquisition marks a significant milestone for IDAK Food Group as it positions itself for future growth and success in the competitive food and drink business landscape. With TowerBrook as a new majority shareholder, IDAK is poised to leverage its expertise and resources to capitalize on emerging food and drink consumer trends and establish a stronger presence in the European market.
