DENMARK – The Denmark Crown group has acquired the Danish pepperoni giant DK-Foods, to expand its pizza topping portfolio to become the European market leader in importing, exporting, distributing and manufacturing frozen pizza.
As part of the agreement, DK-Foods will operate as a separate business unit under Danish Crown’s subsidiary Tulip Food Company and will spearhead the group’s global focus on pizza toppings.
Tulip Food Company is responsible for a wide range of well-known and popular Danish brands for example bacon, meatballs, cold meat, sausages, soups, ready-meals and canned products
Before, Danish Crown has been DK-Foods’ preferred supplier of raw materials for several years.
In order to support future growth, DK-Foods A/S entered a partnership agreement with Maj Invest Equity, which acquired 70% of the shares in DK-Foods A/S, 30% held by other shareholders.
According to the company, Danish Crown will acquire all the shares in DK-Foods, but Per Fischer Larsen and Steffen Ramsgaard will remain on the executive board, reporting to Kasper Lenbroch, CEO at Tulip Food Company.
“We’re delighted that the deal has fallen into place. In acquiring DK-Foods, we are acquiring a focused and unique company, which since its establishment in 2003, has enjoyed impressive growth.
At Tulip Food Company, our strategic focus internationally is on four categories: bacon, canned products, snacks and pizza toppings, so we’re looking forward to incorporating a well-run, agile and fast-moving business,” said Lenbroch.
He added that the acquisition of DK-Foods represented a giant leap forward when it comes to realising bold ambitions within a category which is experiencing growth in many markets, taking them closer to their pizza customers.
The acquisition strengthens DK-Foods through an upstream integration of raw materials and complements the group’s ambition in becoming a leading player in the wider toppings category.