Houlihan Lokey Advises Milcobel

Houlihan Lokey is pleased to announce that Belgian dairy cooperative Milcobel has announced the intended sale of its subsidiary ice cream producer YSCO to Davidson Kempner Capital Management LP (Davidson Kempner), supported by Afendis Capital Management Limited (Afendis) as an operating partner.

Founded in 1949, YSCO focuses entirely on the private label market in Europe, working closely with almost all of the mainstream European retailers for the co-creation and production of their home-brand ice cream products. YSCO has production capabilities in Belgium and France and distributes up to 190 million litres of ice cream per year, predominately within the European market.

Milcobel is one of the largest cooperative dairy companies in Belgium, processing 1.3 billion litres of milk annually with a turnover of €1.3 billion in 2023. The cooperative produces dairy products across three business units: consumer products, premium ingredients, and YSCO.

Houlihan Lokey acted as the exclusive financial advisor to the shareholders of Milcobel. This deal represents another successful transaction for Houlihan Lokey in the ice cream sector, having previously advised Little Moons on its sale of a significant minority shareholding to L Catterton and The Mochi Ice Cream Company on its sale to Lakeview Capital. With more than 300 transactions announced since 2020, Houlihan Lokey has reinforced its global leadership in the consumer space.

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