What's cooking? (formerly: Ter Beke)

M&A Activity • Apr 2, 2025

BE- GHENT, April 2nd, 2025 - 07:00

Acquisition Sveltic

What's Cooking? finalizes the acquisition of Sveltic, a producer of fresh and frozen ready meals located near Rennes (FR).

What's Cooking? finalized the acquisition of 100% of the share capital of Sveltic, formerly part of the 'Mousquetaires' group (Intermarché and Netto retail stores) with production location close to Rennes. Sveltic has a turnover of approximately EUR 55 million and realized a normalized EBITDA of approximately EUR 4 million in 2024. Sveltic produces a wide range of fresh and frozen ready meals complementary to the product range of What's Cooking? and fully aligned with the growth strategy of What's Cooking?

Piet Sanders, CEO of What's Cooking? said, "We are delighted to welcome the Sveltic team to our family and are very much looking forward growing together. This acquisition fits perfectly with our growth strategy and will allow us to broaden our product range with the delicious products of Sveltic. We are looking forward to continuing the supply to Intermarché as well as growing the business with other customers."

The transaction will immediately contribute to the EBITDA of the What's Cooking Group. The enterprise value of the acquisition (on a cash free & debt free basis with normal working capital) amounts to EUR 29 million. The final purchase price is fully paid in cash.

Financial calendar

Annual Report 2024 April 18, 2025 before market opening General Assembly May 28, 2025 Half-year results 2025 Aug. 22, 2025 before market opening Annual results 2025 February 27, 2026 before market opening Contacts Nathalie Vlaeminck – Group Communication Manager nathalie.vlaeminck@whatscooking.group Piet Sanders* Yves Regniers° CEO CFO *Permanent representative of Leading for Growth BV ° Permanent representative of ESROH BV

About What's Cooking Group

What's Cooking? is a European savoury fresh food group headquartered in Belgium which commercialises in Europe and beyond a wide range of high-quality and innovative ready meal products (also known from Come a casa®), as well as related professional food services. "Day by day, we make sustainable food second nature by increasing the world's appetite for tasty, convenient meals, crafted with care both for the people and the planet". Our customers and consumers are always on our hungry minds when preparing our food products, as is the well-being of our employees from our headquarter, 6 industrial sites in Belgium, France, Poland, and the UK, and 5 sales offices. What's Cooking Group exists for 77 years, is listed on Euronext Brussels since 1986 (ticker: WHATS).

More info on What's Cooking? can be found at www.whatscooking.group

What's Cooking Group NV, Kortrijksesteenweg 1091 bus C, 9051 Sint-Denijs-Westrem (Ghent) – Belgium -RPR 03421.364.139 (Ghent Division)