Frostkrone group, a portfolio company of funds advised by EMERAM Capital Partners and a leading manufacturer of frozen convenience food in Europe, continues its international expansion by the acquisition of Varenne Gastronomie from its founder and CEO Richard Ortiz. Established in 1998, with 125 employees and located in Val de Reuil in France, Varenne is a specialized manufacturer of elaborately designed high-quality frozen snack products targeting food retail and food services.
Established in 1997 and with two modern production sites in Rietberg and Verl, Frostkrone has specialized in the development and production of frozen finger food and snack products. Its products are sold throughout Europe and in the USA. At the beginning of 2017, a majority in Frostkrone was acquired by EMERAM.
After EMERAM’s acquisition of Frostkrone in 2017 as well as Piz’wich, also in France, in April 2018, GLNS again advised as lead-counsel in the current transaction with partners Ludger Schult (M&A/Private Equity) and Andreas Scheidle (Tax). The mandate for all aspects concerning French law was held by Paris-based law firm Aramis (Raphael Mellerio, partner, and Bertrand Baheu-Derras, associate – both M&A).
EMERAM and Frostkrone were also advised by Flick Gocke Schaumburg (Structuring) as well as Shearman & Sterling (Financing). The sellers were advised by a team of Almain Avocats led by Edgard Nguyen (Paris).
GLNS had previously advised EMERAM, amongst others, in the acquisition of Matrix42 as well as in the acquisition of Drahtzug Stein Group.