IFR Capital plc (IFR or IFR Capital) 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 €135 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 GmbH, to major European cities. Further details of these opportunities will be announced as soon 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 €1.5 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.

Nordsee and IFR

In January 2007, IFR acquired the entire share capital of Kamps Food Retail Investments SA (KFRI), the holding company of Nordsee GmbH (Nordsee), Europe's largest fish restaurant chain and number one non-burger fast food chain in Germany and Austria . Nordsee has a turnover of approximately €345 million and over 400 outlets in Germany , Austria and Eastern Europe .

In December 2006, ACP Capital and ACP Mezzanine jointly underwrote a €100 million debt package for Nordsee in order to facilitate its proposed expansion and restructuring under the operational guidance of Heiner Kamps . This loan has since then been partly repaid.

ACP Capital and IFR