JBR M&A transaction
An M&A artwork in which trust and shared values are central
JBR acted as advisor to EuroCompany
JBR's deal team consists of Kees van Biert, Harold Brummelhuis, Charlotte Zoller
B-Corp EuroCompany and Korys find each other for sustainable growth
An M&A artwork in which trust and shared values are central
EuroCompany, an innovative Italian family company in nuts, seeds, dried fruits, 100% nut spreads and vegetable alternatives, welcomes Korys (part of Colruyt Family Office) as a minority shareholder. JBR acted as exclusive advisor to the seller in this regard.
Facts and figures
EuroCompany
- Italian family business founded in 1979 by the Zani family
- Product portfolio with various nut and dried fruit products
- B-Corp certified, with strong focus on sustainability and social responsibility
- Headquarters in Godo di Russi (Italy)
- Approx. 400 employees
Korys
- Colruyt Group is a Belgian family-owned retail company founded in 1928 by baker Franz Colruyt
- The company has grown over three generations into a sizeable retail group with more than 1,300 stores, more than 40 brands and 33,000 employees, operating in Belgium, France and Luxembourg.
- Colruyt Group turnover: >10 billion euros.
- Korys is the investment company of the Colruyt family, focusing on sustainable growth and long-term value creation
- By investing in entrepreneurs with an ambition for sustainable value creation, Korys aims to make a positive difference in the areas of healthy food, a conscious lifestyle, and renewable energy
Interview with the deal team
What makes this transaction unique?
Kees:
"That Korys as an international investor accepted a minority position is exceptional. It shows confidence in the strength of EuroCompany." He smiles, "Even after 40 years of dealmaking, I think this one is of special quality. A masterpiece in dealmaking."
What struck you most during the process?
Kees:
"EuroCompany links entrepreneurship to social responsibility. Their B-Corp certification demonstrates that sustainability and concern for the community are embedded throughout their operations. Those values align seamlessly with how we work at JBR: investing in the relationship is at the forefront of everything we do, helping to build sustainable value with and for our client."
How did your knowledge of the Italian language and culture help?
Charlotte:
"Being able to speak directly in Italian to the shareholders and feed back to the management of Korys quickly created an open and confidential dialogue with each other. It ensured that we as JBR were able to properly guide not only the business, but also the cultural nuances."
What do you take away from this process?
Charlotte:
"EuroCompany's focus on long-term relationships, investment in innovative and sustainable business and their belief that companies can create positive social impact align beautifully with our core values.
For me this confirmed that successful deals are not only about numbers, but also about trust, values and the future you build together."
What connection do you see between this assignment and future work in the Food & Agri sector?
Harold:
In my view, the work we were able to do for EuroCompany has an inspiring effect on future transactions in this market. Because of the way our client has structured its business operations and is fully committed to a socially responsible role and sustainable entrepreneurship, awarded with a B-Corp certification, their exemplary role in the sector is something that benefits everyone in the chain. Precisely because this transaction revolved around a company that focuses on positive social impact and social values, it required a different, more focused approach than most transactions. We took on the challenge of attracting only potential buyers who not only understand what this progressive vision requires from an investor, but also truly embrace it themselves. We therefore continue to follow EuroCompany and Korys with great interest in their joint growth within the industry over the coming years.
Voice of the parties involved
Maurizio Castagnoli, General Manager EuroCompany:
“This collaboration represents an extraordinary opportunity to strengthen our international growth while preserving our values and company identity, guided by the belief that business can be a driving force for positive global change. Korys shares our vision and our commitment to people, the planet, and the environment, and will support us on this exciting path into the future."
Dries Crevits and Katti Van Oosterwijck, Korys team (including Colruyt Group):
“Euro Company's transparent and sustainable approach is perfectly aligned with our investment principles. The nuts and dried fruit sector continues to grow, and Euro Company is well positioned to meet consumer demand with conscious and ethical products."
More information: Euro Company announces the entry of Korys as a minority shareholder to support its international growth
Food & Agri sector team
JBR is affiliated with REACH Cross-Border Mergers & Acquisitions. As exclusive BeNeLux partner, we offer deep sector knowledge to Food & Agri clients within the network.
Want to know more about our Food & Agri guidance in international transactions?
Food & Agri Team Netherlands Harold Brummelhuis
Food & Agri Team Belgiume Frank Hermans
Contact the deal team personally
Kees van Biert
Founding and Associate Partner
Harold Brummelhuis
Principal
Charlotte Zoller
Senior Consultant Corporate Finance