Deeside-based KK Fine Foods can invest in its core business after Ter Beke Food Group bought an equity share in the firm, it said. The investment will give the company significant extra capacity over the next two years.
KK Fine Foods plans to boost its capital expenditure and secure its place in the marketplace, now that the deal has been agreed, it said. The firm will continue to operate independently, it confirmed after the deal was revealed earlier this month (September 12).
KK Fine Foods md Samir Edwards said: “The exciting thing for myself and the team is that we can continue to service our existing customers’ needs and provide them with the benefits of the additional capacity that we intend to build into the business over the next 12 months.
“Innovation and creativity really have been the cornerstone of KK’s successes to date, and we intend on keeping this firm focus on where consumers want to go with their next meal.”
Ter Beke’s philosophy was similar to KK’s tradition in family values, Edwards said. The deal will benefit the Belgian manufacturer by gaining access to the UK market.
Access to the UK market
Dirk Goeminne, Ter Beke’s ceo, said: “I have met many passionate developers at KK Fine Foods and have had the good fortune of sampling their creations.
“Their passion for food is exceptional and one that should be nurtured. For that reason, we have made a conscious decision for KK Fine Foods to continue operating independently.”
KK employs 325 workers, and makes pastry products and soups, as well as meals from Italy, the rest of the world and vegetarian meals.
KK Fine Foods partnership with Ter Beke Food Group
- Ter Beke buys equity share in KK
- KK continues to operate independently
- Significant extra capacity over two years