Invision AG recently became the new majority shareholder of Kadi AG, a Langenthal, Switzerland-based manufacturer of frozen and refrigerated products that include french fries, rösti and other potato specialties, in addition to Asian-style spring rolls. The buyer, a Zug-headquartered investment firm, acquired control of the firm from Paragon Partners, a Munich, Germany-headquartered private equity investor.
Founded in 1951 as a potato flakes producer, the company nowadays processes up to 30,000 tons of spuds per annum and employs approximately 180 people. It generated over CHF 70 million in sales of some 270 different SKUs to foodservice and retail customers in 2017, and for more than 20 years has hosted the prestigious “Golden Chef” cooking contest.
“We’ve invested a lot in the development of Kadi and are pleased that the company has grown accordingly. With optimized processes and a new baking line, we are handing over the company to its new owners,” said Marco Attolini of Paragon Partners, which has held a commanding stake in the enterprise since conducting a secondary buyout from Equity Capital Management GmbH (ECM) in June of 2013.
“We are highly enthusiastic about Kadi as an innovative premium supplier of convenience products and look forward to supporting management on their well established growth path,” said Innovation’s Marco Martelli, a partner and board member of the new ownership organization.
CEO Christof Lehmann commented: “This step means the seamless continuation of a strategy which is geared towards the long term development of the company. We are very pleased to have Invision, an experienced and entrepreneurial investor from Switzerland, on our side ensuring our independence and committing to our production site in Langenthal as well as all current jobs.”
Apart from the retirement of CFO Kurt Mosimann, scheduled to take place in the spring 2019, there will be no changes to the management team under Lehmann’s leadership. Succeeding Mosimann is Stephen Schaub, former chief financial officer at Ivers-Lee in Burgdorf.
