Houlihan Lokey Advises Paulig Group
Houlihan Lokey is pleased to announce that Paulig Group, an international food and beverage company, has agreed to acquire the Conimex brand and its associated business from Unilever. The transaction was signed on 17 December 2024. The closing of the acquisition of Conimex is subject to merger control clearance by the Dutch competition authority and customary works council consultation procedures.
Founded in 1932, Conimex is a leading ambient ethnic food brand in the Netherlands with a strong heritage and high brand awareness, being recognised for its distinctive yellow packaging. Conimex has grown significantly over the years, expanding its product line to more than 100 items, with a product portfolio consisting of meal makers, prawn crackers, soups, sauces, and seasonings with a focus on Asian cuisine. The business has been owned by Unilever since 2000. The disposal is part of Unilever’s strategic plans to simplify its portfolio by divesting non-core assets.
Founded in 1876, Paulig Group is a large, international, family-owned food and beverage company based in Finland, generating approximately €1.2 billion in sales. The company operates through two business areas (branded and customer brands) and is known for its all-things tasty offering comprising Tex Mex, snacks, coffees, world foods, and spices under the brands Paulig, Santa Maria, Risenta, Poco Loco, and Zanuy. Paulig also manufactures products for its private label and industry customers. The company has 2,500 employees and has operations in 13 countries across Europe.
The acquisition of Conimex is in line with the group’s strategic plans to accelerate its international expansion, and Paulig is hereby establishing its presence in the Asian food category in the Netherlands. Conimex’s portfolio of Asian cuisine products aligns perfectly with Paulig’s world foods portfolio, creating opportunities for scaling Paulig’s sourcing and supply chain while delivering more flavourful experiences to its customers and consumers.
Houlihan Lokey acted as the exclusive corporate financial advisor to Paulig Group, guiding it throughout the acquisition.
This deal represents another successful transaction for Houlihan Lokey in the ambient food sector, having previously advised Princes on its sale to Newlat Food, Ankerkraut on its majority sale to Nestlé, and HAK on its sale to KDV Group. With more than 300 transactions announced since 2020, Houlihan Lokey has reinforced its global leadership in the consumer space.
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