BERLIN, April 12, 2017 /PRNewswire/ --
- European market leader strengthens German business with acquisition
- Successful reorganisation of IFC with jobs kept
BIP Candy & Toys Germany GmbH has acquired the operating business of IFC - International Food Cooperation Germany GmbH - with effect as of April 1, 2017. BIP Candy & Toys Germany is a subsidiary of BIP Holland B.V., European market leader in producing and selling licensed confectionery. Confidentiality was agreed on the acquisition price. IFC had filed for insolvency on January 31. Loans to the company - which has operated profitably and reported strong growth over past years - were called in after it lost one of its main licensors. With the takeover of IFC, BIP Candy & Toys Germany is securing one of the German market leaders for licensed confectionery and strengthening its own German business.
"With the takeover of IFC, we will now be able to implement our expansion plans much faster in the German market - a market that is very important for us," comments Rogier Korsmit, Managing Director of BIP Candy & Toys Germany GmbH. "IFC offers an attractive portfolio and employees with many years' experience - so we're gaining in both these areas". BIP has already long been active on the German market and now aims to further expand its business operations with the IFC acquisition. IFC had previously been exclusive distributor for Germany of PEZ brand products, licensed confectionery products from BIP, as well as an extensive portfolio of licensed chocolate it had developed itself. The IFC acquisition enables BIP to consistently round out its own product range - BIP will remain the exclusive distributor for Germany of PEZ brand products and its licensed confectionary products, which now also include chocolate along with candy. In addition, BIP developed and launched an extensive product range for licensor Disney in 2016 in the innovative area of 100 percent natural fruit snacks.
"BIP's expertise and many years of experience in this very special market for licensed confectionery in Germany and Europe offered the best option for a successful reorganisation of IFC," notes Hartwig Albers, a lawyer from the GÖRG legal firm the district court appointed as insolvency administrator. Hartwig Albers has already accompanied numerous insolvencies in Berlin, giving such companies new prospects in the process. "I'm particularly pleased all the jobs have been kept as part of the transferred reorganisation."
Potential investors were identified in a structured M&A process that InsoConsult GmbH set up and accompanied professionally. BIP Holland B.V. won a bidding process against other potential acquirers particularly due to its very good strategic concept. International legal firm CMS acted as legal adviser to BIP in the transaction. The sale to BIP was concluded immediately after opening insolvency proceedings for IFC.
About BIP Candy & Toys Germany GmbH
Düsseldorf-based BIP Candy & Toys Germany GmbH is a wholly owned subsidiary of BIP Holland B.V. The Dutch company has operated in the European market for 30 years and is European market leader in producing and selling licensed confectionery for children. Along with Germany, BIP operates in the United Kingdom, France, Spain, Poland, the Czech Republic and Scandinavia, and outside Europe also in Hong Kong and many other countries with its distribution partners. As an experienced licensing specialist, BIP Holland B.V. is exclusive confectionery partner in numerous sales regions to some of the largest international children's entertainment companies such as Disney, Universal, Warner, Nickelodeon and many others. With the Snow Queen, Star Wars, Minions, Superman & Batman, Angry Birds and Hello Kitty and others, BIP delivers children's favourite characters to the confectionery shelves of all relevant European commercial partners. Employing around 100 staff, the BIP Group budgets sales of EUR 75 million for the 2017 fiscal year.
Further information: www.bip.nl
About IFC - International Food Cooperation Germany GmbH
Berlin-based IFC - International Food Cooperation Germany GmbH ranks among the market leaders in Germany in the development, production and distribution of children's confectionery under the brand licence of internationally leading film and toy companies. IFC is the exclusive sales partner for the PEZ brand in Germany, offering a broad product range of licensed confectionery in the candy and chocolate articles area. The wholesale company - founded in 2007 and operating across the whole of Europe - generated sales of around EUR 30 million in 2016 with its approximately 50 employees.
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SOURCE BIP Candy & Toys Germany