On 18 April 2019, Berk Partners acquired a substantial majority interest in Rivièra Product Decorations BV (Rivièra), based in Drachten. Rivièra specializes in sleeving, applying a printed foil, glass, plastic or metal packaging.
Since its foundation in 2002, Rivièra has developed into the sleeve specialist in Europe and serves many large and small customers at home and abroad. Rivièra focuses primarily on projects in the cosmetics and drinks industries, but also has customers in the food and non-food industries.
A sleeve provides more design space and possibilities to combine different target groups and possibly language variants than a label. A sleeve takes the shape of the package completely, where alternatives such as direct printing on the package and labeling have limitations.
As a packaging producer, Rivièra, bears responsibility for the environment, in line with the ESG objectives of Berk Partners. Rivièra therefore closely follows the development of sustainable, degradable materials and will – where possible and desirable – apply these products and present the various options. The compostable films are slowly gaining ground. Customers can promote waste separation by opting for a perforation, with which the consumer can easily separate foil and packaging for recycling.
The transaction concerns a so-called Management Buy Out (MBO). From 18 April 2019 Rivièra Product Decorations BV (Rivièra) was taken over by the current management team, Johan Holtrust and Frans Rienks with the help of Berk Partners as a financial party.
Johan Holtrust has more than 14 years of experience within Rivièra and retains the operational management of the company. With more than 10 years of experience within Rivièra, Frans Rienks will continue to focus unchanged on commerce and marketing.
Management foresees interesting growth opportunities. “With the involvement of Berk Partners we can realize our plans, making full use of the management support and networks of Berk Partners,” said Johan and Frans.
The sale to current management is a deliberate choice, according to former owner Fred Sterk. “Johan and Frans have played an important role in the success of Rivièra. I enjoyed building the company together with them and I am proud that Johan and Frans will now continue it and let it grow according to their own insight. I wish for them, all other employees and our customers, that they can continue to operate independently and based on the same norms and values. ”
Former owner Fred Sterk resigns as director, but remains involved in the background as a member of the RVC.
Rivièra (Frans Rienks):
“When the opportunity arose to take over the company, Johan and I saw an opportunity that we had to seize with both hands. We greatly appreciate that the former owner Fred Sterk has given us this opportunity.”
Berk Partners (Willem Kamps):
“A company like Rivièra fits very well with our investment policy. The innovative manufacturing industry is one of our preferred sectors. Rivièra is active in a demonstrable growth market in which it occupies a leading position. The current management has a very good track record. We are happy to be able to acquire a stake in such a company and to take the company to a higher level together with management. ”