Activa Capital

Paris and Bordeaux, 4 October 2017 – Alliance Etiquettes is actively pursuing its consolidation strategy in the wine, spirits and agri-food high-end labeling sector by announcing the acquisition of Applic’Etains, its 4th build-up since Activa Capital’s investment in July 2015.
Applic’Etains is a French company based in Nontron (Dordogne) and is specialized in the design and production of high-end pewter labels for the wine & spirits industry. The firm, which continues to grow strongly, is managed by its founder, Thierry Vandenbosch.

It is the 4th company to join the Alliance Etiquettes Group since its creation in July 2015; Alliance Etiquettes has tripled in size since Activa Capital invested. For Olivier Laulan, President of Alliance Etiquettes: “Applic’Etains is a firm with a unique positioning in the printed pewter labels’ market. This 4th acquisition reinforces our know-how and our production capacity, enabling us to bring ever more value and satisfaction to our customers. We are delighted and proud to welcome the Applic’Etains team to the Alliance Etiquettes Group”.

For Alexandre Masson, Partner at Activa Capital: “We were particularly impressed by the company’s unique expertise and privileged relationships with its prestigious clients. This operation demonstrates, once again, Alliance Etiquettes’ ability to unite the best label printing professionals around its project. For this acquisition, all the shareholders of Alliance Etiquettes as well as the manager of Applic’Etains have reinvested alongside Activa Capital. We will continue to actively pursue our strategy in France and internationally”.

Buy side
Alliance Etiquettes: Olivier Laulan
Activa Capital: Christophe Parier, Alexandre Masson, David Quatrepoint
Financial due diligence: 8 Advisory (Bertrand Perrette, Damien Petillon)
Legal due diligence: Brunswick (Sébastien Peronne, Aude Idris)
Strategic due diligence: Indefi (Julien Berger, Adam Laissaoui)
Corporate law firm: Mayer Brown (Olivier Aubouin, Marine Ollive)

Sell side
Applic’Etains: Thierry Vandenbosch
Legal advice: Lexcap (Ronan Minier)
Bank: Société Générale (Caroline Marquaille, Viktor Mamotyuk)
Bank legal advice: Herbert Smith & Freehills (Laure Bonin)
About Alliance Etiquettes
Alliance Etiquettes is a French company specialized in the design and production of premium labels for the wine and food industries. Managed by Olivier Laulan, the group generates a turnover of approximately 30 million euros in France and abroad. Learn more about Alliance Etiquettes at

About Activa Capital
Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of private equity funds on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €20m to €200m, seeking to accelerate their growth and their international footprint. Learn more about Activa Capital at

Activa Capital Press Contacts Steele & Holt Press Contacts
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Christelle Piatto Claire Guermond
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