LCI to acquire 100% stake in Unicorn Grain Specialties

French functional cereal ingredients manufacturer Limagrain Céréales Ingrédients (LCI) has signed an agreement to acquire a 100% stake in Dutch grain processing company Unicorn Grain Specialties from Nordian Capital.

Unicorn has an established presence across Northern Europe in the cereals and pulses ingredients markets, primarily focusing on heat treatment technologies such as puffed cereals, cooking-extrusion and flaking.

LCI anticipates that the acquisition will enable the company to provide enhanced expertise and innovative ingredients to its customers within in the bakery, snacking, breakfast cereal, ready meals and animal nutrition markets.

LCI managing director Emmanuel Goujon said: “The two companies share one and the same vision of food that must be safe, natural and a source of pleasure.

“Thus, thanks to our research efforts (variety selection of plants, heat treatment, nutrition), we will continue to offer the best cereals to satisfy our customers with an extended range of products, 100% natural and with high added value.”

The company anticipates that the new group will generate a turnover close to €150m, while bolstering its position in the European cereal ingredients segment.

The newly established group is slated to employ a workforce of 350 personnel.

Unicorn Grain Specialties currently processes more than 330,000t of grain annually via its seven production plants located across Europe.

Unicorn Grain Specialties managing director Pieter Spanjers said: “This operation marks an opportunity to accelerate our development strategy with the strength of Limagrain Group, and to enter a new dimension.

“Together with four locations in Europe (France, the Netherlands, Germany, UK), we create a European leader with strong ambitions.”

The financial details of the deal have not been disclosed by either of the companies.