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.
Z dumą prezentujemy nasz zupełnie nowy Zintegrowany Raport Roczny 2024 – przejrzyste podsumowanie wszystkiego, co udało nam się osiągnąć w What’s Cooking? w minionym roku, w tym nasze ambicje w zakresie zrównoważonego rozwoju oraz wyniki związane z CSRD.
What’s Cooking? finalizes the acquisition of Sveltic, a producer of fresh and frozen ready meals located near Rennes (FR). What’s Cooking? finalized the acquisition of 100% of the share capital of Sveltic, formerly part of the ‘Mousquetaires’ group (Intermarché and Netto retail stores) with production location close to Rennes. Sveltic has a turnover of approximately EUR 55 million and realized a normalized EBITDA of approximately EUR 4 million in 2024. Sveltic produces a wide range of fresh and frozen ready meals complementary to the product range of What’s Cooking? and fully aligned with the growth strategy of What’s Cooking?
As Belgium-listed European Fresh Savoury Food Group What’s Cooking? renewed its strategy and investment program witnessing the sector requires growth and sustainability (ESG) to go hand in hand.
