The poultry processing industry in Benelux remains a vital part of the agricultural chain, transforming raw poultry into various products for both local and international markets. Comprising manufacturers, breeders, and suppliers, the sector emphasizes efficiency and quality. Innovations in animal welfare and sustainability are shaping its future as consumers demand ethically-sourced poultry. Companies are increasingly investing in technology to enhance processing methods, ensuring quicker delivery and improved product safety. With a growing focus on plant-based alternatives, the industry is adapting, looking to merge traditional practices with emerging food trends to remain competitive and responsive to changing consumer preferences.


This article examines twelve notable investors in the poultry processing sector across the Benelux region. These include corporations, private equity firms, and venture capitalists, showcasing a range of strategies and scales. Headquartered mostly in Luxembourg and the Netherlands, many of these investors were established in the 20th century, with steady deal activity observed in 2024. Their participation indicates robust interest in growing this essential industry, with deal sizes primarily influenced by the size and type of investor, reflecting a mix of small- to mid-cap targets for expansion and innovation in poultry processing.


Top 12 Poultry Processing Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg that provides financial services, including loans, equity investments, guarantees, and advisory services, to support sustainable projects across various sectors. Founded in 1958, the EIB aims to promote growth and job creation through its funding initiatives. Among its notable transactions, the EIB has invested in In Ovo, a Dutch company that aims to stop the culling of male chicks in the egg industry by exclusively hatching female chicks. This €40 million funding is pivotal in addressing ethical concerns in poultry processing. Additionally, the EIB has supported Devenish Nutrition with a €40 million loan to enhance research and development in animal nutrition, which is crucial for the poultry sector. These investments highlight the EIB's commitment to fostering innovation and sustainability within the poultry processing industry.


2. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has a diverse investment portfolio, with notable acquisitions in the food sector, including Provimi, which focuses on animal nutrition, and QSR Brands, a significant player in the food service industry. Their historical acquisitions, such as Heiploeg Beheer and Kalle, further illustrate their involvement in the food processing landscape, making them a relevant investor in the poultry processing context.


3. NPM Capital

  • Website: npm-capital.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1948
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: npm-capital

NPM Capital is a private equity investment firm based in Amsterdam, North Holland, Netherlands, founded in 1948. The firm specializes in supporting medium-sized and large companies, particularly family-owned enterprises in the Benelux region. NPM Capital provides capital and strategic advisory services to help these businesses achieve growth and sustainability. The firm operates across various sectors, including technology, education, and food production. Notably, NPM Capital has been involved in several acquisitions, including Hendrix Genetics, which is significant in the poultry genetics sector, indicating their engagement with the poultry industry. Other acquisitions include HAK, Continental Bakeries, and Agro Care, the latter being a major player in the tomato production sector. These transactions reflect NPM Capital's strategy of investing in companies that have the potential for growth and innovation, which is also applicable to the poultry processing industry.


4. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has made significant acquisitions in the food sector, including Geia Food, which they acquired from Norwegian private equity firm Credo Partners in April 2021. This acquisition highlights Triton's engagement in the food industry, which may encompass poultry processing. Additionally, their past acquisitions, such as Frigoscandia Distribution and Fertiberia, demonstrate their active role in various sectors, further supporting their capability to invest in food-related businesses.


5. ForFarmers

  • Website: forfarmersgroup.eu
  • Type: Corporate
  • Headquarters: Lochem, Gelderland, Netherlands
  • Founded year: 2007
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: forfarmers-b.v.

ForFarmers N.V. is an agricultural company based in Lochem, Gelderland, Netherlands, specializing in complete feed solutions for livestock farming, including poultry. Founded in 2007, the company focuses on sustainable practices and provides tailored advice and support to farmers, ensuring the health and productivity of their animals. In recent years, ForFarmers has been active in expanding its operations through strategic acquisitions. Notably, they announced the acquisition of Piast Pasze Sp. z.o.o. to merge feed activities, which will increase their volume by 410,000 tonnes, pending approval from the Polish competition authority. Additionally, they acquired Tasomix in 2018, further strengthening their feed production capabilities. Most recently, they entered into an agreement to acquire Van Triest Veevoeders, a company specializing in trading residual flows and co-products, which is expected to enhance their operational efficiency in the feed sector. These transactions highlight ForFarmers' commitment to enhancing their role in the agricultural supply chain, particularly in relation to poultry farming.


6. Astorg

  • Website: astorg.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 1998
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: astorg

Astorg is a private equity firm based in Luxembourg, founded in 1998, specializing in investments in global B2B companies. With €22 billion in assets under management, Astorg focuses on creating long-term value through a disciplined investment process and strong partnerships with entrepreneurs. They provide capital, strategic guidance, and governance to management teams across various sectors, including healthcare, technology, and business services. Notably, Astorg acquired a majority stake in Solina Group, a French food ingredients producer, which may have implications for the poultry processing industry. Additionally, they have been involved in other transactions such as investments in Picard Surgeles and Mecatherm, although these are less directly related to poultry processing. Their diverse portfolio indicates a broad investment strategy, but their involvement in food-related companies like Solina suggests a potential interest in the poultry processing sector.


7. Hendrix Genetics


Hendrix Genetics is a corporate investor based in Boxmeer, North Brabant, Netherlands, specializing in animal breeding solutions across various species, including poultry, swine, and fish. Founded in 1991, the company operates globally with a commitment to sustainable practices. Hendrix Genetics has made significant strides in the poultry sector, notably through its acquisition of Joice and Hill Poultry Ltd. in 2010, which was integrated into its poultry distribution division. This acquisition followed their earlier purchase of Euribrid in 2007, which included Nutreco's animal breeding activity and a related research center. These transactions highlight Hendrix Genetics' strategic focus on enhancing its poultry operations and contributing to the poultry processing industry by improving breeding programs and productivity for farmers and producers.


8. Incofin Investment Management


Incofin Investment Management is an impact investment firm based in Antwerp, Belgium, founded in 2009. The firm specializes in financing and supporting organizations in emerging markets, with a strong emphasis on promoting financial inclusion and sustainable development. They provide a variety of services, including equity investments, debt financing, and technical assistance. Notably, Incofin has been involved in significant transactions within the poultry processing sector, such as their investment in Sahyadri Farms, which raised substantial funds to expand its warehousing and processing facilities, as well as to build a biomass plant for sustainable energy use. Additionally, they provided debt financing to Couvoir Amar, further demonstrating their active role in the poultry processing industry.


9. Keen Venture Partners


Keen Venture Partners is a venture capital firm based in Amsterdam, Netherlands, founded in 2014. The firm specializes in investing in early-stage technology companies across Europe, with a focus on sectors such as Productive AI, Defense Tech, and Financial Operations. Recently, Keen Venture Partners has made significant investments in the food sector, including a notable investment in Gourmey, a French cultivated meat startup that raised €48 million in a Series A round, marking a significant milestone in the cultivated meat industry. This investment reflects Keen's interest in innovative food technologies that could disrupt traditional poultry processing. Additionally, they invested in Vesper, a Dutch agricultural commodity intelligence platform, which aims to expand its coverage of various agricultural commodities, potentially including poultry. These transactions highlight Keen Venture Partners' strategic support for companies that are relevant to the food and agriculture sectors.


10. Royal De Heus


Royal De Heus is a corporate investor based in Ede, Gelderland, Netherlands, specializing in animal nutrition. Founded in 1911, the company provides a range of products including compound feed, premixes, and concentrates, serving farmers and businesses in the livestock and aquaculture sectors. They offer expert advice and research services aimed at enhancing animal health and farm productivity. Notably, De Heus has made significant acquisitions to strengthen its market position, including the acquisition of Masan Group's feed business in Vietnam, which encompasses 13 feed mills and a premix plant with a production capacity of nearly 4 million tons. This acquisition is part of a strategic move to expand their footprint in high-potential agricultural markets. Additionally, they acquired Nutrex KZN (Pty) Ltd. in South Africa, further solidifying their presence in the feed industry. These transactions highlight De Heus's commitment to enhancing its capabilities in animal nutrition, which is integral to poultry processing.


11. Gilde Buy Out Partners


Gilde Buy Out Partners is a private equity firm based in Utrecht, Netherlands, founded in 1982. The firm specializes in investment management and business transformation services, focusing on providing growth solutions to mid-market businesses across Europe. Notably, Gilde has been involved in significant transactions within the agricultural and food processing sectors, including the acquisition of Heiploeg Beheer, a company engaged in poultry processing. This acquisition highlights Gilde's strategic interest in enhancing operations and market presence in the poultry industry. Additionally, their acquisition of CID Lines Group, a manufacturer of hygiene solutions for agricultural and food processing, further emphasizes their commitment to supporting businesses in these sectors.


12. Convent Capital

  • Website: conventcapital.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2011
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: convent-capital

Convent Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2011. The firm specializes in sustainable investments and growth capital provision, focusing on small to medium-sized enterprises in the Benelux region and innovative companies within the AgriFood sector. Convent Capital supports businesses in enhancing their sustainability efforts and achieving growth through investment management and advisory services. Notable transactions include leading a EUR 11 million funding round for ChainCraft, a company focused on sustainable food production, which may align with poultry processing interests. Additionally, they have been involved in various funding rounds for companies like Ducate Group and Convertus, further demonstrating their engagement in the AgriFood landscape.



Poultry Processing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
CvcLuxembourg1001-5000200516
NPM CapitalAmsterdam, North Holland, Netherlands11-5019481
Triton PartnersLuxembourg201-50019976
ForFarmersLochem, Gelderland, Netherlands1001-500020071
AstorgLuxembourg51-20019988
Hendrix GeneticsBoxmeer, North Brabant, Netherlands1001-500019910
Incofin Investment ManagementAntwerp, Flanders, Belgium51-20020099
Keen Venture PartnersAmsterdam, North Holland, Netherlands1-1020147
Royal De HeusEde, Gelderland, Netherlands5001-1000019110
Gilde Buy Out PartnersUtrecht, Utrecht, Netherlands11-5019820
Convent CapitalAmsterdam, North Holland, Netherlands1-1020112


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