Belgian frozen food firms Ardo and Dujardin Foods have entered into an agreement to merge their activities.
The financial terms of the transaction have not been disclosed.
The move is aimed at creating a strong working platform that allows operating sustainably in the frozen vegetable, fruit and herb segment.
Following the merger, both the units will operate independently with Ardo led by Jan Haspeslagh, while Dujardin Foods headed by Rik Jacob.
As part of the transaction, private investor NPM Capital, which holds a minority stake in Dujardin Foods, will sell its holding.
The combined entity, which will be named Ardo, will have family representatives and two independent directors representing the board.
It will be designed to cater to market demands, in addition to strengthening relationships with partners in the retail, food service and food segments.
Ardo CEO Jan Haspeslagh said, "Joining two complementary companies, where the owners are already closely related, is a natural step that prepares us for the future and ensures that the business remains family-owned.
"With our similar approach to business and common desire to combine entrepreneurship and professionalism, I am confident that we will create a cohesive company. This announcement is excellent news for all stakeholders."
Image: The planned merger is aimed at creating a strong working platform that allows operating sustainably in the frozen vegetable, fruit and herb segment. Photo: courtesy of BrianHolm / FreeDigitalPhotos.net.
