Colruyt Group acquires 100% of Roelandt Group

Halle / Zele-Lokeren, 27 January 2022 – Colruyt Group acquired 100% of the shares of the industrial bakery ROELANDT GROUP.

With this acquisition, Colruyt Group furthers its investments in the vertical integration of fresh products, which include bread, and brings the entire bread value chain under its own management. The new division "Fine Food Bread" division within Colruyt Group will from now on manage, amongst other things, the entire supply chain and quality controls of bread and pastries, and will allow for further investments in product innovation. This will further support the group's efforts to generate growth for this segment at its various retail formulas. With this acquisition, Colruyt Group strengthens the anchoring of its activities in Belgium, activities of which bread production will now be an integral part.

Extending an existing Belgian partnership: a logical step

Today Colruyt Group acquired 100% of the shares of ROELANDT GROUP (NORTHLANDT NV). Both family-run businesses already have an important common history: Colruyt Group and Roelandt Group have been investing in a joint activity under the name of Roecol since 2012. In addition, bread has played an important role ever since the early beginnings of Colruyt Group. Nearly a hundred years ago, founder Franz Colruyt already delivered bread to the customers. To this day, bread remains a product that is highly appreciated by the Belgian customer: it continues to play an important role in the shopping basket.

Roelandt Group is a Belgian family business that has been run by the Roelandt family for several generations. It is one of the most important industrial bakeries in Belgium, active in the production and sale of fresh, part-baked and frozen bread, sandwiches and pastries to a wide range of B2B customers, including schools, bake-off bakeries and national and international wholesalers and distributors. The fresh products are delivered mainly in Belgium, while part-baked and frozen products are delivered throughout Western Europe.

The trusted customer relationship with Colruyt Group, along with the positive collaboration experience within Roecol, prompted Roelandt Group's management to partner with Colruyt Group. With the acquisition, Colruyt Group as a Belgian retailer strengthens its Belgian connections, and underlines the importance of focusing on, and investing in, local production.

Optimisations within the bread value chain

By acquiring all of Roelandt Group's activities, Colruyt Group pursues its investments in vertical integration in the fresh products segment, which includes bread. The entire value chain (i.e. the sourcing of raw materials, production, quality control, product development and transport) will be centralised in an own production unit under the name of Colruyt Group Fine Food Bread, located in Zele and Lokeren.

Colruyt Group Fine Food Bread will complement the group's existing activities for cutting meat, producing coffee, charcuterie and spreads, bottling wine, and cutting and packaging cheese: activities that have already proven that vertical integration brings various advantages. Here as well, the group will gain full control over the bread supply chain and be able to implement further optimisations. The product range can now be better aligned to the needs of the various retail formulas and production and deliveries will be organised even more efficiently. This unlocks further growth potential and new opportunities for this segment.

In addition, this acquisition allows Colruyt Group to further its investments in product renewal and innovation of its offer within this segment. A wide range of opportunities opens up and there is a strong sense of optimism about the future.

The transaction

In the period ahead, all parties will continue to work hard to enable the practical integration and to ensure a successful transition, thereby relying on each and every co-worker. Both parties have agreed not to disclose any details regarding the price or any other terms of the transaction. Arm's length principles were applied for the valuation.

Roelandt NV will be fully consolidated, Roecol NV was already fully consolidated. This acquisition is not expected to have a material impact on the results of the current financial year (2021-22) and the next financial year.

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