Mouscron 23 December 2022 - The shareholders of the potato processing company Mydibel (the Mylle family and SRIW) have reached an agreement with Clarebout on the sale of 100% of the shares of Mydibel. The transaction has been approved by the boards of directors of both parties and is expected to close, subject to the approval of the relevant competition authorities, in the first quarter of 2023. The parties do not wish to disclose the financial details of the transaction.
The sale will allow Mydibel to optimally position itself in a difficult market environment, taking into account the interests of all parties involved. With this acquisition, Clarebout is further strengthening its international ambition. The combination is therefore stronger than ever to play a leading role in the global market.
Marc Van Herreweghe, CEO Mydibel: "With this transaction we are taking a further step in the implementation of our growth strategy. Mydibel is one of the world's leading players and can count on a strong team of employees, partners, farmers and growers. With Clarebout as our new owner, we have found a reliable partner and are setting the stage for a successful future for Mydibel and its employees.
Jan Clarebout, CEO Clarebout: "We are extremely pleased that Mydibel is now part of the Clarebout Group. Mydibel stands for high quality products, manufactured by motivated and skilled professionals and sold worldwide. We see great opportunities in our complementary product range, regional strength and sales channels. Together, we form a Belgian champion that sets the pace worldwide."
About Mydibel - Mydibel is a company active in the processing of potatoes into finished products such as frozen fries, cut potato specialties, mashed potatoes, dehydrated products, sold under the Mydibel brand or under the brand of its customers. The company was founded in 1988 by Roger Mylle and has been owned by his sons Bruno and Carlo Mylle since 2009. In 2019, the Walloon investment company SRIW took a 19.2% stake in the capital.
About Clarebout - Clarebout is a large international group active in frozen potato products for private labels. The group employs more than 1,600 people and has an annual turnover of more than € 1 billion. Clarebout was founded in 1988 and was active in the commercialisation of potatoes. Over the years, Clarebout started processing these fresh potatoes into various frozen potato products. Today, Clarebout is one of the leading players with a very diverse range of products, from frozen fries to potato specialities and flakes. Clarebout is strongly export-oriented and distributes its products in more than 120 countries worldwide, with the operational centre in Europe.
The investment bank ING and Vervisch Overnamebegeleiding have been appointed as financial advisors and Stibbe as legal advisor to the sellers. Lazard and Eubelius have advised Clarebout.