PwC sole financial advisor in sale of Glacio NV

Written by Philippe Fimmers 30 November 2017

PwC Deals negotiates deal between buyers and sellers

The PwC Transactions team would like to thank Glacio NV (owner of the IJSBOERKE brand) for trusting us as their sole financial advisor in the sale of the company to the Baronie Group on 21 November. Sellers are Peter Janssen and Werner Van Springel, respectively the CEO and CFO of the company, and DMK Deutsches Milchkontor GmbH, a German-based milk cooperative.

Glacio NV is an ice cream company that offers branded (Ijsboerke) and private label products to retail and food service companies in Europe and the Far East. The group has two production facilities located in the Campine region of Belgium and employs approximately 400 full-time employees. The company made 90m euros in sales last year.

Baronie Group, the Belgian-based chocolate group with sales of approximately 500m euros and EBITDA of  approximately 67m euros in 2016, is owned by Mr Fons Walder. The rationale for the buyer to acquire Glacio NV is to expand its range of products it currently offers and to provide Glacio and Ijsboerke with new growth opportunities.

PwC Deals acted as financial advisor to the company and brought the buyer and sellers together and negotiated the deal between them.

LawSquare/PwC Legal Germany acted as legal advisor to the seller DMK Deutsche Milchkontor GmbH.