Acatris sell Canadian subsidiary
Acatris Inc., formerly Daminco, was acquired by Royal Schouten Group N.V. in 2000 to strengthen the group’s position in the North American food industry.
24/06/05 Acatris Holding B.V., division of Dutch Royal Schouten Group N.V., sold their Canadian subsidiary Acatris Inc. in Oakville to the Canadian private equity group TD Capital. Acatris Inc. produces and distributes ingredients for the food processing industry. TD Capital, part of the TD Bank Financial Group, will provide capital and strategic counsel and support to grow their business.
Acatris Inc., formerly Daminco, was acquired by Royal Schouten Group N.V. in 2000 to strengthen the group’s position in the North American food industry. “The past five years, Acatris Inc performed very well”, says Dr Bert Piëst, CEO of Royal Schouten Group N.V. and Acatris Holding B.V. “However, we want to focus more on the European food industry. The synergy between the North American and European operations was limited.
We think it only fair to Acatris Inc. to find another parent company that would be better able to support their growth opportunities. We believe we have found the right partner in TD Capital.”
TD Capital targets middle market companies whose objective is to grow their business. TD Capital assist these companies by providing the needed capital and also supports them with strategic counsel, enabling the companies to grow their business and achieve succes in the marketplace. Paul Henry, in charge of the acquisition of Acatris Inc. on behalf of TD Capital: “We believe in Acatris Inc’s potential. After extensive market research we have seen that Acatris is well-established in the Canadian market. It is a solidly growing, trustworthy organization.”
