Lion Capital buys Benelux frozen foods

Lion Capital, a London-headquartered consumer-focused private equity firm, has acquired Mora, a Benelux frozen snacks business.

No deal terms were provided for the transaction, in which Lion Capital bought Advang Holding, owner of Ad van Geloven and Mora, from Egeria Capital, a Dutch mid-market investor.

Egeria Capital, which was advised by Atlas Advisors, Rabobank Securities and Stibbe, bought Mora in 2006 from Unilever to bulk up its Ad van Geloven frozen meals business, which it also acquired from Unilever back in 2002.

Founded in 1960 in Tilburg, Holland, Ad van Geloven employs more than 900 people in five factories in the Netherlands and Belgium. In 2007, the company generated net sales of more than €170m.

Lion Capital was advised by Stamford Partners, Weil Gotshal and Houthoff Buruma.