ROYAL BUISMAN acquired by NACTAROME GROUP
Context
The acquisition of Royal Buisman by Nactarome is a strategic move to drive long-term growth, aimed at solidifying Nactarome's position in the natural ingredients market for the food and beverage industry. As a specialist in natural caramel ingredients, Royal Buisman brings a complementary offering to Nactarome's portfolio, with a range of products that cater to customers' needs in terms of flavor, color, and texture. This transaction enables Nactarome to expand its geographic footprint, particularly in Europe, and strengthen its network of key clients, with an increased presence in five new countries. The acquisition of Royal Buisman by Nactarome is the result of a divestment process led by Bencis Capital Partners, which has decided to refocus Prinsen Berning, Royal Buisman's parent company, on the active nutrition segment. This deal presents a win-win scenario for both parties, allowing Royal Buisman to continue its strategy of supplying high-quality natural ingredients to top-tier clients, while Nactarome consolidates its market position. The transaction is also expected to enable Royal Buisman to leverage Nactarome's presence in Asian markets, unlocking new export growth opportunities. With this acquisition, Nactarome now boasts 12 manufacturing sites and over 550 employees. The transaction was advised by Rothschild & Co, EY, and Van Campen Liem, who brought their expertise to the table in navigating this complex deal.
ROYAL BUISMAN, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.2x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in AgriFood market trends
Target
Royal Buisman is a designer and manufacturer of exclusive natural caramelized ingredients for the food industry, boasting over 150 years of expertise in the field of caramelized sugars. The company generates revenue through the sale of liquid and powdered formulations to large food industry groups, particularly in the baking, instant hot beverages, and meat substitutes segments. The purchasing dynamics of this institutional clientele are driven by strict requirements for sensory continuity and regulatory compliance, leading manufacturers to prioritize supply stability over pure tariff optimization. By offering qualified "clean label" alternatives, Buisman enables brands to limit their use of synthetic additives, thereby catering to the evolving needs of consumers and regulatory environments. With a long history of developing caramelized ingredients, the company has established a robust product portfolio, allowing it to maintain a stable presence in the market, entering new geographies and expanding its customer base, with a focus on delivering high-quality products that meet the stringent standards of the food industry.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Similar deals in AgriFood
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 05/2023 | MADEMOISELLE DESSERTS | GALANA (PASTRY & ICE CREAM) | BELGIUM | Food Processing | Mademoiselle Desserts continues its external growth strategy by acquiring the pastry and ice cream activities of the Belgian company Galana. The transaction is structured as a carve-out, as Galana's seafood trading business is not included |
| 04/2023 | SARIA | DEVRO | UNITED KINGDOM | Food Processing | SARIA acquired the entire issued share capital of Devro with an offer representing a substantial premium of approximately 67% to Devro's share price, reflecting SARIA's determination to delist this strategic asset |
| 03/2023 | CARLSBERG GROUP | WATERLOO BREWING | CANADA | Food Processing | Carlsberg has completed the acquisition of 100% of Waterloo Brewing's shares, aiming to bolster its presence in the Canadian market, where the group had previously maintained a relatively limited footprint |
| 02/2023 | PAI PARTNERS | LA COMPAGNIE DES DESSERTS | FRANCE | Food Processing | PAI Partners' investment in La Compagnie des Desserts, a specialist in frozen pastries and ice cream for professionals, is part of a broader strategy to expand geographically and diversify operations. With a workforce of 700 employees, the company aims to achieve revenues of 180 million euros by 2027, up from 117 million euros in 2022, driven by approximately 20 annual hires |
| 02/2023 | LUCAS BOLS COMPANY | FLUÈRE | NETHERLANDS | Food Processing | Lucas Bols completed the acquisition of 100% of Fluère to strategically enter the rapidly growing non-alcoholic spirits market. This "bolt-on" acquisition allows Lucas Bols to capitalize on the "mindful drinking" trend, providing a sophisticated alcohol-free alternative to its global client base of professional bartenders and distributors |
| 02/2023 | ROUTIN | CAPPUCCINE | UNITED STATES | Food Processing | Routin-1883 acquired 100% of Cappuccine to accelerate its footprint in the North American market, the world's largest for coffee shops and mixology. This acquisition marks Routin's third external growth operation since Apax's entry in 2019 (following Eyguebelle and Artonic) |
| 01/2023 | BROWN-FORMAN CORPORATION | DIPLOMÁTICO RUM | VENEZUELA | Food Processing | Brown‑Forman Corporation has completed the acquisition of the Diplomático Rum brand and its associated corporate assets from Destillers United Group S.L.. The transaction structure transfers full brand ownership alongside a dedicated aging, bottling, and shipping production facility located in Panama |
| 01/2023 | IRCA / ADVENT INTERNATIONAL | KERRY SWEET INGREDIENTS | IRELAND | Food Processing | Kerry Group entered into exclusive negotiations to divest its Sweet Ingredients Portfolio to IRCA, a portfolio company of the global private equity firm Advent International. This transaction represents a strategic move for Kerry Group to refine and enhance its core Taste & Nutrition business |
| 01/2023 | REFRESCO | AVANDIS | NETHERLANDS | Food Processing | Refresco has completed the acquisition of Avandis, a Dutch manufacturer of alcoholic beverages, from Lucas Bols and De Kuyper Royal Distillers, two leading players in the spirits and cocktail industry |
| 01/2023 | NEWPRINCES GROUP | EM FOODS | FRANCE | Food Processing | Newlat Food has completed the acquisition of EM Foods and its manufacturing facility in Ludres from the German food company Dr. Oetker. This transaction marks Newlat's strategic entry into the baking mixes and dessert category, further diversifying its product offering |
REFERENCES
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ROYAL BUISMAN by NACTAROME GROUP are reserved for mynth community members. Register for free to unlock full data.
Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: royal buisman
Acquirer: nactarome group