An independently managed investment company indirectly owned by Investindustrial VIII SCSp and its affiliates has reached an agreement to acquire Kiremko Group BV, Idaho Steel Products, Inc., and Reyco Systems, Inc., which together form one of the world's leading designers and manufacturers of machine tools and custom solutions for the agri-food industry, with a focus on the potato processing segment.

The Kiremko-Idaho-Reyco Group serves the world's leading potato processors through a partnership formed in 1996 between: Kiremko, founded in 1965 and headquartered in Montfoort, Netherlands; Idaho Steel, founded in 1918 and based in Idaho Falls, Idaho; and Reyco, launched in 1975 and headquartered in Caldwell, Idaho. Over the years, the group has established itself as one of the industry's leading innovators and a leading global provider of premium solutions for the industrial production of potato products, such as frozen French fries, potato croquettes, and potato flakes. With over 300 customers in over 50 countries, the Kiremko, Idaho Steel, and Reyco brands have become synonymous with quality, innovation, and reliability. The Group employs over 450 people across manufacturing facilities and offices in the Netherlands, the United States, India, and China, and generated revenues of over $200 million in 2024.

With this transaction, Investindustrial and management aim to consolidate the three companies into a new group and build a world-leading platform in the food processing equipment and plant sector. The objective is to achieve continued global growth, both through organic expansion and acquisitions in core markets and through expansion into sectors related to the one in which the three companies operate. With over a century of combined experience, a reputation for innovation and quality, and a broad international presence, the Group offers the potential of an ideal and unique platform for this ambitious growth strategy.

Building on its successful track record of supporting companies that combine industrial automation and the food and beverage market, such as Omnia Technologies and Piovan, Investindustrial is able to bring deep industry knowledge, integration capabilities, operational expertise, and the global presence necessary to support the Group's continued development. With this transaction, Investindustrial's industrial automation subsidiaries generate combined revenues of approximately €1.5 billion and employ approximately 5,000 people, while those operating in the food and beverage sector generate approximately €8.2 billion and employ over 20,000 people (as of December 2024).

Kiremko is currently owned by Paul Oosterlaken and Andy Gowing , while Idaho Steel and Reyco are owned by the Bradshaw and Christensen families. Investindustrial will acquire 100% of all three companies upon closing.