Vanreusel is a Belgian producer of frozen meat-based snacks and the market leading supplier for Belgium’s out-of-home restaurants/snack-bars (i.e., “frituren/friteries”). Since 1953, the company developed a broad range of products spread across four categories: cooked meat (e.g., frikandels, hamburgers, etc.), skewers, breaded snacks (e.g., chicken nuggets, etc.) and sausages. Most of the company’s products are marketed under the Vanreusel brand and sales are realized in Belgium, the Netherlands, the UK and other Western-European countries.


Our investment thesis consists in acquiring together with a trustworthy family the clear market leader in the highly resilient niche of Belgium’s out-of-home frozen snacks with a solid business model, top-notch industrial facilities and further market consolidation potential. Moreover, cultural heritage protects the stability of the Benelux out-of-home market and changing lifestyles create opportunities for convenient food solutions. In addition, Vanreusel benefits from the reputation of industry leading quality, resulting in high customer loyalty. Therefore, we believe these elements provide a strong base to further develop Vanreusel in its existing markets and create opportunities to grow in new sales channels or geographies.

Date of Investment: July 2018

Sector: Food

Sector: Belgium

Sales: €46 million

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