Coconut water, digital marketing and oat milk, the winning cocktail of the Spoelberch

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Investment vehicle of the Spoelberchs – shareholders of AB InBev –, Verlinvest had a record year. Consolidated profit reached 780 million euros in 2021.

From a secondary project of certain historical shareholder families of the brewing giant AB InBev, Verlinvest has now turned into a major profit machineaccording to its 2021 consolidated financial statements. of its shareholdings, as well as certain particularly lucrative businesses.

The vehicle recorded a consolidated profit of 780 million euross. Excluding minority interests in certain participations, this resulted in an impressive profit of 493 million euros.

Valtech specializes in digital campaigns for major consumer brands such as L’Oréal, Levi’s and BMW, which was sold last summer for 1.4 billion dollars (1.2 billion euros) to investment giant BC Partners. The company benefits fromacceleration of digitization in many companies since the coronavirus pandemic.

The sale of the company, which was delisted by Verlinvest in 2015, yielded a monster profit. Spoelberch&Co could checkout again, as the investment company has reinvested part of its funds in Valtech alongside BC Partners.

779

millions of euros

The sale of Vita Coco and Valtech shares enabled Verlinvest to realize capital gains of nearly 780 million euros.

Vita Cocothe producer of trendy coconut drinks, and whose singer Rihanna is also an ambassador, is another Verlinvest success story. The Belgian group is one of its first major investors and was able to realize part of its stake for the first time during the IPO last year.

Note that the Belgian investor did not come out totally from Vita Cocowhose stock price is still below the IPO price this year.

oats

This is also the case for another high-profile beverage manufacturer in Verlinvest’s portfolio, namely the Swedish company oatly. The producer of oat milk went public last year but has seen its share price steadily fall due to a series of issues. It is now listed at $4, less than a quarter of its IPO price of $17 in May last year.

The Spoelberchs have already monetized a small portion of their stake in the deal, but continue to own most of it. Their joint venture with China Resources still owns nearly 46% of the company. The value of this stake is several billion dollars lower than the peak reached just after the IPObut thanks to its early entry, it still represents a multiple of the entry price.

At Verlinvest’s headquarters, in the Flagey building in Ixelles, the Oatly share price is closely monitored. Every dollar up or down in Oatly stock represents a difference of $135 million for Verlinvest.

Verlinvest continues to invest in many growth companies, from an Indian health app to an American home decor store. Recently, the group has also invested in the pet shop Tom & Co and UK cat lunch box supplier KatKin.

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