What is Growth Strategy and Future Prospects of Ter Beke Company?

What's Cooking? Growth Strategy and Future Prospects?

What's Cooking?, formerly Ter Beke, is undergoing a significant transformation. The company rebranded in 2023, shifting its focus towards sustainability and plant-based foods.

This strategic pivot aims to align with evolving consumer preferences and environmental concerns, moving beyond its traditional processed meats heritage.

The company's growth strategy now emphasizes expansion and innovation in ready meals and plant-based alternatives. Its future prospects are closely tied to successfully navigating these dynamic market segments. The company's product portfolio includes items like those analyzed in the Ter Beke BCG Matrix.

The company is actively pursuing a multi-faceted expansion strategy focused on product diversification and new market penetration. A significant part of this involves increasing its plant-based offerings, with a goal of 15% of its volume coming from vegetarian or fully plant-based products by 2030.

Product Diversification Focus

The company is enhancing its 'Savoury' cold cuts business by integrating vegetable proteins. The 'Ready Meals' unit is concentrating on 'local heroes' and expanding plant-based options to cater to diverse consumer tastes.

Geographical Expansion Efforts

Operating in 37 countries with 12 factories across seven nations, the company is committed to geographical growth. Recent acquisitions underscore this commitment to accessing new customer segments and diversifying revenue streams.

Acquisition of Sveltic in France

In April 2025, the company finalized the acquisition of Sveltic, a French ready meals producer, for approximately EUR 55 million. Sveltic generated an EBITDA of approximately EUR 4 million in 2024, aligning with the company's strategy to invest in its Ready Meals business.

Entry into the British Market

The 2017 acquisition of a 90% stake in KK Fine Foods marked a significant entry into the British food service market. This move included plans for plant expansion and establishing a research and development center for retail sector entry.

Strategic Growth Drivers

These expansion initiatives are designed to bolster the company's market position and adapt to evolving consumer preferences. The focus on plant-based products and strategic acquisitions are key elements of its long-term vision.

• Increasing plant-based product volume to 15% by 2030.
• Acquiring companies to strengthen the Ready Meals business unit.
• Expanding into new geographical markets.
• Adapting product portfolios to local tastes and sustainable trends.

Understanding Ter Beke's growth strategy reveals a clear commitment to innovation and market expansion. The company's future prospects are closely tied to its ability to successfully integrate new acquisitions and capitalize on the growing demand for plant-based and locally-relevant food options. This approach is central to its overall Ter Beke business strategy, aiming to enhance its Ter Beke market position and drive sustainable growth.

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Innovation and technology are cornerstones of the company's growth strategy, driving advancements in both product development and operational sustainability.

Research and Development Focus

The company's R&D efforts are dedicated to creating a wide variety of savory fine spreads and prepared meals, including both animal and plant-based options.

Sustainability Integration

R&D also concentrates on improving the sustainability of existing products, packaging, and production processes, addressing environmental concerns alongside product relevance.

Greenhouse Gas Emission Reduction

A key target is to halve greenhouse gas emissions (Scope 1 and 2) by 2030, relative to 2021 levels.

Water Consumption Reduction

The company aims for a 30% reduction in water consumption per tonne of product by 2030, compared to 2022 figures.

Food Waste and Packaging Goals

Targets include a 20% reduction in food waste by 2024 and 100% recyclable packaging by 2025.

Investment in Sustainable Innovation

An additional 150 million euros will be invested from 2023 to 2027 in new production lines and energy-saving measures, a 10% increase from the prior five-year investment.

The company's commitment to sustainability was acknowledged in January 2025 with an award for 'Best First Sustainability Report,' underscoring its strategic approach to environmental responsibility and innovation. This focus on sustainable practices is a critical component of the Growth Strategy of Ter Beke, aiming to enhance its market position and future prospects.

Key Technological and Sustainability Initiatives

The company's innovation and technology strategy is multifaceted, encompassing product development, process optimization, and a strong commitment to environmental stewardship.

• Development of diverse savory fine spreads and prepared meals, including plant-based alternatives.
• Enhancement of sustainability across products, packaging, and production processes.
• Ambitious targets for greenhouse gas emission reduction by 2030.
• Significant reduction goals for water consumption per tonne of product.
• Commitment to reducing food waste and achieving 100% recyclable packaging.
• Substantial investment in new production lines and energy-saving technologies.

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What's Cooking? (formerly Ter Beke) is actively reshaping its financial landscape to fuel future growth, with a clear focus on its Ready Meals segment.

Consolidated Turnover

The company achieved a consolidated turnover of EUR 832 million in 2023. This follows a notable increase to EUR 781 million in 2022, marking a 12.1% rise in consolidated sales.

EBITDA Performance

In 2022, EBITDA decreased by 21.8% to EUR 35.9 million, a trend attributed to prevailing cost pressures within the market.

Strategic Divestment

A significant strategic move was the agreement to sell its Savoury business unit in October 2024, finalized in January 2025. This divestment is projected to yield approximately EUR 100 million in net equity value after associated costs.

Focus on Ready Meals

The sale of the Savoury SBU, which represented EUR 464 million of the 2023 turnover, is intended to accelerate organic growth and facilitate acquisitions, particularly within the high-potential Ready Meals segment.

The company's commitment to its future growth strategy is further evidenced by its investment plans. What's Cooking? plans to invest an additional EUR 150 million over the five years starting from 2023. This investment will surpass the EUR 135 million allocated in the previous five-year period and is earmarked for critical areas such as new production lines and sustainability initiatives. This financial outlook underscores a deliberate strategy to bolster the Ready Meals division while optimizing capital allocation for enhanced profitability and market position.

Investment in Growth

A substantial investment of EUR 150 million is planned for the period 2023-2028. This capital will be directed towards enhancing production capabilities and advancing sustainability efforts.

Capital Allocation Strategy

The divestment of the Savoury business unit is a key component of the company's capital allocation strategy. It aims to free up resources for more focused investment in high-growth areas.

Financial Restructuring

The company is undergoing a significant financial restructuring to streamline operations and improve financial performance. This includes a clear focus on profitable segments.

Future Prospects

The strategic shift is designed to enhance the company's future prospects by concentrating on segments with higher growth potential and improved margins.

Organic Growth Focus

A primary objective of the current Ter Beke growth strategy is to drive organic growth, particularly within the Ready Meals sector. This involves leveraging existing strengths and market opportunities.

Market Position Enhancement

By divesting non-core assets and reinvesting in key growth areas, the company aims to strengthen its overall market position and competitive advantage.

Ter Beke's Financial Outlook and Strategy

The financial outlook for What's Cooking? (formerly Ter Beke) is characterized by a strategic pivot towards accelerating growth in its Ready Meals segment. This involves a deliberate restructuring of its business portfolio, as detailed in the Revenue Streams & Business Model of Ter Beke analysis. The company's business strategy is geared towards optimizing its financial resources to capitalize on market trends and drive long-term value.

• The divestment of the Savoury business unit is a critical step in this financial realignment.
• Increased investment in new production lines and sustainability initiatives signals a commitment to future operational efficiency and market competitiveness.
• The focus on the Ready Meals segment is a direct response to identified growth opportunities and market demand.
• This strategic approach aims to enhance profitability and strengthen the company's overall financial health.

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The company's growth ambitions face several strategic and operational risks common in the food sector. Intense market competition necessitates continuous innovation and competitive pricing to maintain its market position.

Market Competition

The food industry is highly competitive, requiring constant adaptation to consumer preferences and pricing pressures.

Regulatory Changes

Stricter European climate targets demand significant investment in sustainable practices, posing a financial challenge.

Consumer Shifts

An accelerating consumer move away from traditional meat products requires strategic diversification into plant-based alternatives.

Past Market Impact

The 2013 horsemeat scandal, though not directly involving the company, caused a 15.3% slowdown in ready meal sales.

Merger & Acquisition Hurdles

Regulatory concerns from the Belgian Competition Authority in June 2023 led to the termination of a key acquisition.

Adaptation Strategy

The company is addressing these risks through diversification, sustainability investments, and continuous market adaptation.

The company's approach to managing these potential risks involves a multi-faceted strategy. Significant capital is being allocated towards ambitious environmental goals, demonstrating a commitment to sustainable growth and compliance with evolving regulations. Furthermore, the company is actively diversifying its product portfolio to include more plant-based alternatives, aiming to mitigate the impact of shifting consumer preferences away from traditional meat products. This proactive stance is crucial for navigating the dynamic food industry and securing its future business prospects. Understanding the broader context of these challenges is vital, and a look at the Competitors Landscape of Ter Beke can provide further insight into the competitive pressures faced.

Investment in Sustainability

Substantial capital is dedicated to meeting stringent environmental targets and adapting to climate-related regulations.

Portfolio Diversification

Expanding into plant-based alternatives is a key strategy to counter the decline in traditional meat consumption.

Strategic Adaptation

Continuous adaptation to market trends and consumer behavior is central to the company's long-term vision and growth objectives.

Merger Regulatory Scrutiny

Past experiences highlight the potential for regulatory bodies to block acquisitions that could negatively impact market competition.

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