Codrico was sold to Itwaco B.V.
Following the receivership (“surséance”) of Codrico, PhiDelphi Corporate Finance acted as financial advisor to the insolvency administrator of Codrico in order to sell the assets. In a tightly run sale process the activities of Codrico were sold to Itwaco.
Codrico is active in the field of hydro thermal treatment of grain products and flours through extrusion and maize milling. Codrico has annual revenues of approximately EUR 50 mln and currently employs 50 people.
Itwaco is a private investment company, based in the Netherlands.