Nordian Capital Partners has sold Unicorn Grain Specialties to Limagrain Céréales Ingrédients

Tuesday May 29, 2018

Nordian Capital Partners is pleased to announce that Unicorn Grain Specialties has been acquired by Limagrain Céréales Ingrédients (LCI). Unicorn Grain Specialties joins LCI to form a European leader in cereal ingredients. The transaction will be effective in a few weeks.

Under Nordian’s ownership, Unicorn Grain Specialties has built a strong presence in Northern Europe in the cereals & pulses ingredients markets, relying on heat treatment technologies (puffed cereals, cooking-extrusion, flaking). Under Nordian’s active ownership Unicorn turned around from a production department of Meneba supplying mainly feed companies, into an independent company with a proactive commercial focus on both feed and food companies. Nordian invested in research and gathering extensive knowledge and expertise in ”Understanding Texture & Enhancing Nutrition” and focused on the development of specialty ingredients.

The combination of strengths of the two companies will provide enhanced expertise and innovative ingredients to customers involved in the bakery, snacking, breakfast cereal, ready meals and animal nutrition markets. The new group with a workforce of 350 employees will generate a turnover close to € 150 million and will strengthen its position as the European leader in cereal ingredients. It will process more than 330,000 tonnes of grain each year in seven production plants across Europe.

Emmanuel GOUJON, Managing Director of LCI says: "Unicorn has a very strong presence in the Benelux and Germany, competitive and innovative products, a team with a solid know-how" and continues: "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. "

Pieter SPANJERS, Managing Director of Unicorn Grain Specialties, emphasizes: "This operation marks an opportunity to accelerate our development strategy with the strength of Limagrain Group and to enter a new dimension. We are delighted to be able to benefit from LCI's size, geographic location, product offerings and cereal expertise. Together with four locations in Europe (France, the Netherlands, Germany, United Kingdom), we create a European leader with strong ambitions. Limagrain Céréales Ingrédients is a strategic partner who, like us, is convinced of the strength of innovation to develop natural solutions with high added value for our customers. "

About Nordian Capital Partners: Nordian Capital Partners is an independent private equity investor, which distinguishes itself by providing companies with tailor-made assistance to both increase and accelerate growth. Nordian believes in structural value growth by improving and increasing profitability and helps achieving this as a critical and involved partner. Nordian invests together with its management teams based on a clear investment case: a joint plan formulated by the management and shareholders that serves as the guiding principle for the company to grow.

The firm focuses on majority investments in the Dutch mid-market and manages two funds with a capital commitment of over EUR 500m. Its funds comprise of a portfolio of 14 companies. For further information, visit

About Limagrain Cereals Ingredients: Limagrain Céréales Ingrédients (LCI) is a subsidiary of Limagrain, an agricultural cooperative group, creator and producer of plant varieties. Based on 100% traced chain managed by farmers who are members of the cooperative, Limagrain Céréales Ingrédients (LCI), creator of functional cereal ingredients for the food industry, has a turnover of more than 100 Million Euros, of which 40% is exported and transforms every year more than 200,000 tonnes of cereals for the markets: bakery, snacks, breakfast cereals, ready meals, dairy products and nutrition. The company has more than 260 employees over 6 production sites.

About Unicorn Grain Specialties: Established in 1906, Unicorn Grain Specialties transformed into a leading manufacturer of specialty-ingredients for a healthy and sustainable experience. With knowledge and expertise on two platforms: Understanding Texture & Enhancing Nutrition, Unicorn unlocks the naturel functionalities of grains, seeds and pulses. This makes Unicorn one of the foremost specialist in Europe in the processing of these natural resources into various applications for the Food, Pet Food and Feed markets. Unicorn Grain Specialties is based in Weert, The Netherlands with a sales office based in Greven, Germany. Unicorn employs 75 people and process more than 135,000 tonnes of cereals annually.