Frozen foods major McCain is handing off its Netherlands-based fresh potatoes asset CelaVita to Dutch investment group Nimbus.
Financial details of the transaction have not been revealed.
McCain signed a "purchase agreement" with the investor to allow it to acquire the CelaVita brand earlier this week.
The acquisition is expected to be completed by the middle of this year, depending on receiving approval from the Dutch works council and the Netherlands Authority for Consumers and Markets.
According to a statement released by Nimbus, McCain's movement away from the chilled potatoes category was a main driver of the sale, with the company deciding that "CelaVita can grow better in a standalone situation".
Commenting on the news, Henk Dollekamp, managing director at CelaVita said: "We are confident that under the wings of Nimbus, together with the tireless efforts of the great CelaVita team, and after the successfully implemented strategy and plans at CelaVita over the last two years, CelaVita will become an even stronger business than it is today.”
Following the purchase, Nimbus will take control of the CelaVita production site in Wezep in the Gelderland province.
McCain has been asked to confirm the size of the facility in Wezep, as well as the number of employees who work there.
The move is not expected to impact CelaVita's growers as McCain plans to "continue to source and supply potatoes" to CelaVita for the 2024 crop year. Just Food has asked Nimbus to confirm whether McCain will still be involved in the business the following year.
CelaVita, which has been owned by McCain since 2012, produces a range of cooked potato products, including parboiled, fully cooked and ready-to-eat potatoes.
It also made a range of "natural and seasoned produce" under the McCain label in the Netherlands, according to its website.
Nimbus said the purchase of the brand was a "logical choice", as it has "exhibited potential that can be realized through operational improvements, additional investments, and growth".
The Zeist-headquartered group has a number of food brands in its portfolio, including another fresh potatoes producer Frespo, ice lollies maker Dedert IJs, and sports nutrition supplier for private label brands, Well Plus Trade.
In 2016, Nimbus also bought the UK-based ice cream brand Halo Foods from Finnish food giant Raisio. It sold the group to the US private equity group Peak Rock in 2020.
