IFR Ifr Capital

RNS Number:5880X
IFR Capital PLC
01 June 2007


IFR Capital Plc (AIM: IFR)

IFR acquires Homann, a leading German food producer

IFR Capital Plc ("IFR" or the "Company"), an AIM-listed investment company
focused on consolidation opportunities in the European retail food sector, today
announces its acquisition of 100% of the fully diluted share capital of Homann
Chilled Food GmbH ("Homann") from Henderson European Partners I LP. Homann is
the third acquisition by IFR following its purchases of Nordsee GmbH ("Nordsee")
and Bastians GmbH ("Bastians") and represents a significant step towards its
vision of creating a diversified European food enterprise.

Homann, a long-established and widely-known food manufacturer located in
Germany's Dissen/Westphalia, is a market leader in chilled salads and
convenience products, both in the food retailing and discount distribution
channels. Founded in 1876, Homann is a traditional food manufacturer which has
evolved from a meat and sausage producer to a well-known supplier of chilled
food.

IFR expects to maximise significant cross-selling and administrative synergies
from owning and operating both Homann and Nordsee. Nordsee is Europe's largest
fish restaurant chain and premier non-burger fast food chain in Germany and
Austria generating an annual turnover of more than Euro350 million.

Nordsee is also expected to benefit from Homann's long history and strong
relationships with almost all key retailers and discounters in Germany.

IFR was created in October 2006 by Heiner Kamps, the renowned food retail
entrepreneur, and ACP Capital Limited, the AIM-listed niche integrated financier
focusing on the provision of funding to European small and medium sized
enterprises.  Since its inception, IFR's stated strategy has been to create
shareholder value by seeking opportunities from the consolidation of the
European food sector.

The acquisition of Homann is closely aligned with IFR's long-term objective of
creating a leading, vertically-integrated food business with a view to acquiring
potentially synergistic businesses to spur IFR's further growth.

"With their long traditions both brands are strongly established and highly
esteemed by customers in Germany's consumer services sector," said Heiner Kamps.
  "Homann and Nordsee will continue to pride themselves on offering reliable,
natural, healthy and enjoyable quality food."

The deal is subject to affirmation of the German Antitrust Agency.


Enquiries:

Simon Atkinson, Collins Stewart Europe Limited
(Nominated Advisor to the Company)                          +44 (0) 20 7523 8350

Rob Bailhache, Financial Dynamics Limited                   +44 (0) 20 7269 7200
(Media Relations)


Notes to Editors:


IFR Capital

IFR Capital plc (IFR) is an acquisition platform targeting small and
medium-sized businesses in the continental European food industry, within three
sub-sectors: retail (mainly shops/ restaurants), industry (wholesale and
production) and distribution.

Founded in October 2006 by ACP Capital and food retail entrepreneur Heiner
Kamps, IFR was admitted to trading on AIM in November 2006 raising approximately
Euro135 million pre costs.

IFR is currently considering various opportunities in the European food sector
with a view to acquiring potentially synergistic businesses that would help
propagate the company's further growth. Further opportunities include the
ongoing expansion of IFR's new premium bakery brand, Bastians, to major European
cities. Further details of these opportunities will be announced as they become
available.

Ultimately, IFR's intended long-term strategy is to create a leading,
vertically-integrated food business with a turnover of at least Euro1.5 billion by
2009 and an EBITDA margin of approximately 10 per cent. IFR will benefit from
the operational management of Heiner Kamps as well as the broad financing
experience and capabilities of ACP Capital.


Heiner Kamps

Heiner Kamps, the highly regarded retail entrepreneur, is responsible for
operational management of IFR Capital. He is the CEO of Kamps Food Retail
Investments, a holding company which acquired Nordsee, a German fish chain
restaurant with a turnover of Euro350 million and over 400 restaurants across
Germany, Austria, Switzerland and Eastern Europe, in September 2005.

Mr Kamps is well known for his involvement with the German industrial bakery
group now known as Kamps AG which he founded in 1982. Kamps AG was taken over by
Italian pasta group Barilla for Euro 1.8 billion (including debt) in 2002.

Since his departure from Kamps AG, Mr Kamps has been Managing Director of BHV
GmbH, an investment, consulting and asset management company, and has been on
the board of several high profile European companies

Mr Kamps has extensive knowledge of the retail business across Europe and is the
trustee of the humanitarian Heiner Kamps Foundation, "Bread against Misery"
founded in 2000.


ACP Capital

ACP Capital is a Jersey-incorporated specialized integrated finance and asset
management company focusing on both the asset-backed and non asset-backed
sectors in the European small and mid-sized enterprise (SME) market. The
company's shares were admitted to trading on AIM in January 2006, raising
approximately #50m before costs, followed by a further #15m share placing in
December 2006. In March 2007, the company announced a further #150m capital
raising in order to finance its intended development plans, including the
development of additional funding lines, managed vehicles and strategic
platforms (as announced 6 February 2007).

As an integrated finance specialist, ACP Capital offers a combination of equity,
mezzanine and senior debt to companies in niche markets, such as the German
"Mittelstand" (small and middle-sized privately-owned companies), and for asset
backed transactions, for example, in the real estate and infrastructure sectors.
The company intends to put in place levered loan and non-investment grade
funding vehicles in order to complement its current product base with a view to
providing financing solutions across the capital structure.

As an asset manager, ACP Capital manages a series of investment vehicles that
can provide the required funding for its integrated finance capabilities. ACP
Capital intends to launch at least 2 managed vehicles each year in specific
sectors in its target markets. These managed vehicles are intended to take
advantage of the planned flow of asset opportunities from the expansion of the
company's funding capabilities and strategic platforms. ACP Capital intends to
receive management and performance related fees from these vehicles in addition
to any share price increase as a strategic equity investor. To date, ACP Capital
has launched 2 such vehicles, ACP Mezzanine Limited and IFR Capital plc. As
announced on 8 March 2007, ACP Capital has raised a committed leverage facility
of #125m with Deutsche Bank for ACP Senior High Yield, a soon-to-be-launched
managed vehicle focusing on the acquisition of European senior debt assets
originated primarily through ACP Capital's SME-focused integrated finance
business, and through the primary and secondary markets.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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