LDC to Acquire Majority Stake in European Convenience Food (ECF) in Germany

LDC announced an agreement to acquire a majority stake in the German company, European Convenience Food (ECF). The transaction allows existing local management to retain a minority shareholding. ECF, known for its VEGETA and KARL KEMPER brands, is a leader in Germany's market for cooked and frozen processed products, focusing on plant-based and poultry items. The company reported a consolidated turnover of €80 million in 2023 with an EBITDA exceeding €10 million.

Employing nearly 200 people, ECF primarily serves the German domestic market. This acquisition aligns with LDC's strategy to expand internationally, specifically targeting Germany, Europe's largest food market, and the growing segment of plant-based and poultry products. The deal is expected to conclude by end-2024, pending approval from the Competition Authority.