Belgian Frozen Fries Giant Clarebout Eyes Billion-Euro Deal with US Food Titan Simplot

Clarebout Potatoes, one of Belgium’s largest frozen potato producers, is reportedly close to striking a major deal with US agri-food giant J.R. Simplot, De Standaard reports. Industry insiders suggest the agreement, potentially a sale or strategic alliance, could be worth billions of euros.

The West Flanders-based firm, founded by Jan Clarebout in 1988, is a global player in frozen potato products and exports to over 120 countries. It ranks third in the world, behind Canada’s McCain Foods and US rival Lamb Weston.

J.R. Simplot, a privately owned US company based in Idaho, is a heavyweight in the global food sector but has no current operations in Europe. Clarebout, meanwhile, lacks a US manufacturing base. The deal would mark a significant step for both firms.

Previous talks with private equity groups CVC Capital and Advent reportedly stalled, while negotiations with Simplot advanced. Although no formal announcement has been made, speculation has swirled for weeks in West Flanders.

Amid industry growth and rising global demand, frozen fries producer Lutosa, a subsidiary of McCain Foods, is investing €225 million (approximately $244 million USD) to expand its Waregem plant, aligning with broader sector moves such as Clarebout’s potential deal with U.S. giant Simplot.
The potential tie-up comes as competition in the frozen potato sector intensifies. Rivals like Agristo, Aviko and McCain (which owns Lutosa) are aggressively expanding production in Belgium and abroad. This is raising fears of overcapacity and shrinking profit margins.

Belgium is the world’s leading exporter of frozen potato products, producing 3 million of the 15.5 million tonnes consumed globally each year.