Expanding Sprehe’s position in the German market
Headquartered in Lorup, Germany, Sprehe Group is one of the largest, most modern and highest-performance full-range suppliers of fresh and deep-frozen meat products as well as convenience food in Europe. As a family-owned business, Sprehe Group is strategically focussed on highest quality and a diversified portfolio of products based on chicken, turkey and pork.
The company continously aims to strengthen its position in the German meat market and to intelligently add scale to its operations. In that regard, with the support of NIBC it successfully completed the acquisition of Bernard Matthews Oldenburg (BMO) in 2016, an independent subsidiary of Bernard Matthews Foods. BMO is a great extension in terms of product range. It provides fresh poultry products in the areas of cold cuts, convenience and steaks and frozen poultry products to mainly German clients such as supermarkets and industrial and home service customers.
Further building on the expertise of its team in Frankfurt, NIBC acted as financial advisor to Sprehe and provided a customised financing. NIBC has been a reliable and trusted financial partner to Sprehe for years.
The origination and cross-border execution of this mandate was made possible through NIBC’s track record in the German agri-food sector and deep insight and continuous coverage of the animal protein subsector, as well as the long-term relationship with the company based on mutual trust.
BMO is an excellent fit with Sprehe and will contribute significantly to the company’s overall position in the meat processing market. Synergies resulting from the acquisition are expected to reduce costs and increase efficiencies by reallocating production steps among group entities and optimising net working capital.
Markus Fahlbusch, Managing Director at Sprehe:
“For us, it was important from the outset to have a partner on our side that has an in-depth expertise on our industry.”