Alantra advises Aakamp on its sale to Procemsa
SECTORFood & Beverage
Alantra, the global investment banking firm, has advised the shareholders of Aakamp (“Aakamp” or “the Company”), a leading German producer and innovator of Vitamins, Minerals and Supplements (“VMS”), on signing a contract for the sale of the Company to Farmaceutici Procemsa (“Procemsa” or “the Group”). Procemsa, a company indirectly held by Investindustrial Growth L.P. (“Investindustrial”), is a leader in the production, packaging and R&D of food supplements.
Since 2019, Aakamp has been majority-owned by AUCTUS Capital Partners, a leading German buy- and build investor, alongside founder Alexander Keibel and the wider management team.
Founded in 2009, Aakamp is the leading contract manufacturing partner for German VMS brands that focus on the Direct to Consumer (“D2C”) channel as their primary route to market. The Company manufactures the full range of nutritional supplements (including capsules, tablets, softgels, liquids and powders) and offers a complete range of services (including product development, production, packing, labelling and storage). The Company has a purpose-built, state-of-the-art production plant in Breddorf, Northern Germany, and employs around 200 people. Led by the founder, Alexander Keibel, who will continue as CEO, Aakamp has achieved exceptional and consistent growth over the last decade.
The acquisition of Aakamp by Procemsa allows Investindustrial to continue its strategy of creating a European market leader in the VMS sector. The transaction is of particular strategic importance as it opens up the €2.5 billion German market – the third largest in Europe behind Italy and the UK, with the fastest growing D2C segment. Upon completion of the transaction, Procemsa will become one of the largest VMS operators in Europe.
This transaction underlines Alantra’s position as the leading global M&A advisor in the mid-market VMS and nutritional foods sector, having recently advised on the sale of Bee Health (UK) to INW, Nutriscience Innovations (US) to Tilia Capital, GS Capsule (China) to Advent International and Patent Co (Serbia) to RWA, as well as the acquisitions of UAS Laboratories (US) for Chr. Hansen, and OFI (Italy) for Procemsa.
Alantra’s cross-border deal team applied its deep sector expertise and close relationships with global strategic players to achieve a highly successful outcome for Aakamp.
Charles Lanceley, Head of UK Food & Nutrition, and Christopher Jobst, Partner (Germany), led the deal supported by Oliver Hickley and James Segal based in the UK and Franziska Haug and Felix Finn based in Germany.
Charles Lanceley, Head of UK Food & Nutrition, commented, “As the clear leader in the German VMS market and an indispensable partner to its customers, Aakamp has established itself a prized asset in the context of the European competitive landscape. We worked with the founder, Alexander Keibel, and institutional shareholders, to explore a range of options that would fit both their, and the Company’s, long-term needs. In Procemsa we are delighted to have found a partner with the right strategic and cultural fit, and are excited to follow Aakamp’s continued success.”
He continued, “Across Europe, consumers are spending record amounts on VMS products as they focus pro-actively on improving their health and well-being. The leading innovators, developers and manufacturers, like Aakamp, deliver a critical piece of the VMS supply chain and as a result will continue to attract strong interest from strategic and financial investors.”
Alexander Keibel, CEO of Aakamp added: “We are delighted to have gained the trust of a partner like Investindustrial and to be able to collaborate with a large Group like Procemsa. Our company is strongly marked by digital development and we are sure that our international vocation will be able to consolidate the role of Procemsa among the leading players in the sector. We would like to thank Alantra for their support in this process. The cross-border collaboration has worked seamlessly and brought great added value.”
Andrea Bonomi, Chairman of Chairman of Investindustrial’s Industrial Advisory Board commented: “This acquisition is another example of the successful consolidation strategy that Investindustrial has implemented since the beginning of its activity, integrating over 150 acquisitions into portfolio companies. We believe that Procemsa is well positioned to continue its international expansion both through acquisitions and organic growth. In Aakamp we have found an excellent opportunity to consolidate our position in the important German market.”