Ter Beke Bundle
How Does What's Cooking? Operate?
What's Cooking?, formerly Ter Beke, is a major European food company with over 75 years of experience. They specialize in processed meats and ready meals, serving both retail and food service clients across Europe. Their rebranding in March 2023 signals a strong focus on innovation and sustainability within the food industry.
With a turnover of EUR 832 million in 2023, the company operates 12 industrial sites and several sales offices in countries like Belgium, France, and the UK. Their product range includes items like sliced meats and prepared dishes, with a commitment to making packaging 100% recyclable by 2025 and using 100% green electricity by 2024.
The company generates revenue by producing and distributing a variety of food products. Their strategy involves catering to consumer demand for convenience and quality in the processed meat and ready meals markets. Understanding their operational model is key, especially considering the European processed meat market was valued at USD 38.84 billion in 2025, and the ready meals market was estimated at USD 71.86 billion in 2024.
The company's commitment to sustainability, including exploring plant-based options, positions them to capitalize on evolving consumer preferences. For instance, their offerings might include products analyzed through a Ter Beke BCG Matrix to understand market share and growth potential.
What Are the Key Operations Driving Ter Beke’s Success?
What's Cooking? (formerly Ter Beke) operates through two main strategic business units: 'Savoury cold cuts' and 'Ready Meals'. The company focuses on creating and delivering value through these distinct product categories, with an increasing emphasis on plant-based alternatives and local preferences.
Savoury Cold Cuts Evolution
This unit historically focused on processed meats but is now integrating more vegetable-based proteins into its finely sliced products, spreads, and snacks.
Ready Meals Emphasis
The 'Ready Meals' SBU highlights 'local favourites' and a growing range of plant-based options, with a notable presence in fresh lasagnas across Europe.
Extensive Operational Footprint
The company manages a complex supply chain across 12 industrial sites in Belgium, the Netherlands, France, Poland, and the United Kingdom, serving both retail and food service clients.
Innovation and Sustainability Focus
What's Cooking? differentiates itself through significant investment in R&D for new products, particularly plant-based options, and a strong commitment to sustainability in its processes and packaging.
Commitment to Environmental Goals
The company has set ambitious targets to enhance its environmental performance and reduce its ecological footprint.
- Aiming for 100% recyclable packaging by 2025.
- Targeting a 20% reduction in food waste by 2024 (compared to 2022).
- Committing to using 100% green electricity by 2024.
- Working towards halving greenhouse gas emissions (scope 1 and 2) by 2030 (compared to 2021).
- Striving to consume 30% less water per tonne of product by 2024 (compared to 2022).
The core capabilities of What's Cooking? translate into tangible customer benefits, offering convenient, flavorful, and increasingly sustainable food solutions. This strategic approach, detailed further in the Revenue Streams & Business Model of Ter Beke article, positions the company effectively within a competitive market by aligning operational excellence with evolving consumer demands for healthier and more environmentally conscious food choices.
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How Does Ter Beke Make Money?
What's Cooking? (formerly Ter Beke) primarily generates revenue from selling processed meats and ready meals. In 2023, the company achieved a consolidated turnover of EUR 832 million. This revenue is driven by a diverse product portfolio catering to various consumer needs.
Core Revenue Generation
The company's main income comes from the sale of processed meats and ready meals. This forms the backbone of the Ter Beke business model.
2023 Financial Performance
In 2023, What's Cooking? reported a consolidated turnover of EUR 832 million. This figure reflects the company's significant market presence.
Geographic Sales Distribution (End of 2024)
Net sales were distributed across key markets: Belgium (23%), the United Kingdom (22.6%), France (19.1%), Poland (9.1%), the Netherlands (7.7%), and other regions (18.5%). This broad reach diversifies revenue sources.
Product Category Contribution
Historically, cooked meat products accounted for 53.9% of net sales, while ready meals represented 46.1%. This indicates a balanced product offering.
Strategic Shift Towards Ready Meals
The company announced its intention to sell its Savoury SBU, which was EUR 464 million of the 2023 turnover. This move signals a strategic focus on accelerating growth in the Ready Meals business.
Monetization Channels
Monetization occurs through sales in retail chains and food service channels. This multi-channel approach maximizes market penetration.
Future Growth and Investment Strategy
The company's monetization strategies are further supported by a commitment to innovation and sustainability. This includes developing plant-based alternatives and 'local favourites' within ready meals to meet evolving consumer demands.
- The company plans to invest an additional EUR 150 million over the next five years.
- This follows over EUR 135 million invested in the previous five years.
- These investments are crucial for implementing the new strategy and achieving sustainability goals.
- The focus on innovation is key to capturing changing consumer preferences and driving future revenue.
- Understanding the Brief History of Ter Beke provides context for these strategic shifts.
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Which Strategic Decisions Have Shaped Ter Beke’s Business Model?
The company underwent a significant rebranding to What's Cooking? in March 2023, coinciding with its 75th anniversary. This rebranding signaled a renewed European business strategy, heavily focused on sustainability and innovation, with the aim of leading the food industry towards more responsible practices.
Key Milestones and Rebranding
A major milestone was the rebranding to What's Cooking? in March 2023, marking 75 years in business. This transition underscored a commitment to a European strategy centered on sustainability and innovation.
Sustainability Goals
The company set ambitious sustainability targets, including achieving 100% recyclable packaging by 2025 and sourcing 100% green electricity by 2024. These goals also encompass significant reductions in food waste and greenhouse gas emissions.
Strategic Investments and Acquisitions
A substantial investment of 150 million euros is planned over the next five years to support the new strategy and sustainability objectives. This follows an investment of over 135 million euros in the previous five years.
Divestment and Acquisition Adjustments
In 2024, the acquisition of Sveltic, a French ready meals producer with approximately EUR 55 million in turnover, was finalized. Conversely, the company initiated a process to explore the sale of its Savoury SBU, which represented EUR 464 million of its EUR 832 million consolidated turnover in 2023.
Competitive Edge and Market Position
What's Cooking?'s competitive advantages are built on operational excellence, product innovation, and a deep understanding of customer needs. The company leverages its long-standing craftsmanship and a proactive approach to sustainability and plant-based product development to stand out in the market.
- Operational excellence
- Product innovation
- Customer intimacy
- Sustainability focus
- Plant-based product development
- Extensive European network of 12 industrial sites
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How Is Ter Beke Positioning Itself for Continued Success?
What's Cooking? (formerly Ter Beke) is a major player in the European processed meats and ready meals sectors, notably as a top producer of fresh lasagnas. The European processed meat market reached USD 38.84 billion in 2025, with pork holding a significant 44.12% share in 2024. The ready meals market in Europe was valued at USD 71.86 billion in 2024 and is expected to grow to USD 124.82 billion by 2035, showing a compound annual growth rate of about 5.15% from 2025 to 2035.
Industry Position
What's Cooking? is a leading European producer of fresh lasagnas and holds a strong position in processed meats and ready meals. The company operates within a substantial European market for both categories, with the ready meals segment showing robust projected growth.
Key Market Data
The European processed meat market was valued at USD 38.84 billion in 2025, with pork being the dominant meat. The European ready meals market, valued at USD 71.86 billion in 2024, is anticipated to reach USD 124.82 billion by 2035.
Identified Risks
The company faces risks from fluctuating raw material prices, particularly for meat and vegetables. Evolving consumer preferences towards health and sustainability also present challenges, requiring adaptation in sourcing and packaging.
Competitive Landscape and Regulatory Hurdles
Intense competition in the processed meat and ready meals sectors necessitates continuous innovation. The company's past acquisition cancellation due to competition concerns highlights potential regulatory obstacles in market consolidation efforts.
Future Outlook and Strategy
What's Cooking?'s 'Strategy 2030' focuses on sustainable profitable growth, aiming to accelerate organic expansion in its Ready Meals business. Innovation in tasty, sustainable, and nutritious products, including plant-based options, is a core element of their approach.
- Accelerating organic growth in Ready Meals.
- Exploring acquisitions in the ready meals segment.
- Developing innovative, sustainable, and nutritious products.
- Expanding plant-based and vegetarian offerings.
- Investing in sustainable practices like 100% recyclable packaging by 2025 and 100% green electricity by 2024.
The company's commitment to ESG practices and long-term value creation is further detailed in its 2024 Sustainability Report, outlining its Growth Strategy of Ter Beke.
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- What is Brief History of Ter Beke Company?
- What is Competitive Landscape of Ter Beke Company?
- What is Growth Strategy and Future Prospects of Ter Beke Company?
- What is Sales and Marketing Strategy of Ter Beke Company?
- What are Mission Vision & Core Values of Ter Beke Company?
- Who Owns Ter Beke Company?
- What is Customer Demographics and Target Market of Ter Beke Company?
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