IK Investment Partners has announced that its IK VII Fund has reached an agreement to divest chilled convenience food company Signature Foods to Pamplona Capital Management for an undisclosed sum.

Headquartered in Hilversum, the Netherlands, Signature Foods supplies A-brands as well as private label spreads and dips, meal solutions, bites and tapas in the European market.

It also owns consumer brands such as Johma and Délio.

With a workforce of more than 600 employees, Signature Foods operates seven manufacturing sites in the Netherlands, Belgium and Poland.

Signature Foods CEO Erik Bras said: “Over the last five years, the company has transformed substantially, as we acquired and launched new brands and products, invested substantially in our production capabilities and grew our footprint in Europe.

“We are extremely grateful to everyone at IK for their partnership and support, enabling us to be wher we are today.”

In January 2016, IK invested in Signature Foods and over the last five years, the convenience food company is said to have expanded into new products and markets and also acquired four companies and has increased its revenues to exceed €300m.

Completion of the deal is subject to the approval of the competent anti-trust authorities

IK partner and IK VII Fund adviser Norman Bremer said: “We are incredibly proud of our successful partnership with Signature Foods.

“In addition to a strategic buy and build programme, the company has persistently invested in its brands and products, streamlined its supply chain and manufacturing processes while maintaining its focus on quality and sustainability, which have all contributed to the leading market position it enjoys today.

“The business has an exciting pipeline of further growth ahead and we wish Erik and the team every success in the future.”