Consolidated results 2024: significant strategic progress and improvement in results
What’s Cooking? Group achieves remarkable strategic progress and reports significant improvement in results
What's Cooking? announces the intent to purchase Sveltic in France
What's Cooking?, the leading European Fresh Savoury Food Group with a wide product range in Savoury cold cuts and Ready Meals, announced in October 2024 its intent to further invest in Ready Meals through organic growth and acquisitions.
Today What’s Cooking? announces its intent to purchase 100% of the share capital of Sveltic, part of grouping Mousquetaires (Intermarché and Netto retail stores) with production location in France close to Rennes. Sveltic has a turnover of over EUR 50 million with an estimated normative EBITDA margin of 10%. Sveltic has a broad range of frozen and chilled ready meals, complementary to the existing Ready Meals business strategy of What’s Cooking?
The proposed transaction is subject to customary conditions also including consultation of employee representatives and regulatory approvals.
Negotiations continue under exclusivity with Agromousquetaires, affiliate of grouping Mousquetaires, and no final terms of a possible transaction are known.
It is expected that the transaction will be finalized in the first half of 2025. The enterprise value is estimated at around EUR 35 million.
What's Cooking? will communicate in accordance with legal obligations when further information is available on this matter.
The Group also confirms that is on track with its disposal of the Savoury cold cuts business and will communicate on this in due course.
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