France’s LDC group has taken a majority interest in Germany-based European Convenience Food (ECF Group), a retail and foodservice supplier.
Otherwise known as Lambert Dodard Chancereul, the French business did not disclose in a brief statement the size nor the price it is paying for the stake as LDC extends this year’s acquisition spree.
ECF Group’s management will remain minority shareholders post-transaction, which, subject to competition approval, is expected to close before year-end.
Speaking to Just Food earlier this year, LDC’s CEO Philippe Gélin said the company is keen to expand beyond poultry into plant-based products and ECF Group fits that strategy with its vegetarian offerings.
ECF Group was created in 2014 through the merger of Germany’s Karl Kemper Convenience and Eichkamp. The combined business supplies frozen vegetarian products, snacks and meat-based items. As well as the retail and out-of-home channels, it also serves B2B customers and private label.
The company’s foodservice brands include Vegeta and Karl Kemper. The former offers products such as plant-based meals, patties, falafels and bratwurst.
Karl Kemper operates in similar categories but in the meat section.
However, a new plant-based brand for retail was recently introduced, New Leaf, consisting of burgers, nuggets and appetisers.
According to LDC, the turnover of ECF Group was €80m ($86.7m) last year, with 90% generated from the German market and the remainder from exports.
Employing almost 200 people, the business delivered EBITDA of “more than” €10m last year, LDC said.
“As an extension of its international expansion strategy, this new acquisition would allow the LDC group to enter the promising segment of frozen poultry and vegetable/plant-based products, in a new country, Germany, Europe’s largest food market,” LDC said in the statement.
No individual management commentary was provided but Just Food has asked ECF Group for a comment or statement.
LDC, meanwhile, has struck a number of acquisitions this year.
Konspol in Poland was added to the roster in June after LDC snapped up local salads and tabbouleh producer Pierre Martinet the month before. It also bought family-owned meat producer Groupe Routhiau early in the year.
Based in Sablé-sur-Sarthe, Paris-listed LDC generated a 6% increase in turnover to €6.2bn in the 2023-24 financial year. Poultry made up 72% with the rest coming from convenience foods.
EBITDA was relatively flat at €550.2m, compared to €547.4m a year earlier. Net profit climbed to €17m from €2.5m.
The company’s brands include brands Loué, Le Gaulois, Maître CoQ, Doux, Marie, Traditions d'Asie, Drosed and Nature et Respect.
