Waterlogic establishes footprint in Belgium through acquisition of Pure Services

Castik Capital

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisition of Pure Services.

Established in 2007, Pure Services specialises in renting and servicing drinking water dispensers and fountains to small and large corporate organisations across Belgium and Luxembourg.

Founded in 1992, Waterlogic was one of the first companies to introduce Point-of-Use (POU) water dispensers that utilise the mains water supply. The company has been at the forefront of the POU market, promoting eco-friendly product design and quality, the application of new technologies, and world class service.

Veerle Claes, Managing Director, Waterlogic Benelux said, “Pure Services is the natural partner to help us establish a footprint in Belgium’s fast-growing hydration market. The company has worked tirelessly over the last 12 years to establish an outstanding reputation for exceptional service and drinking water solutions for their customers.”

Waterlogic has direct presence in 16 countries and an extensive independent global distribution network in place, reaching over 60 countries around the world. Waterlogic Belgium is part of the company’s newly formed Benelux region alongside an already established market in the Netherlands and plans to enter Luxembourg, further fulfiling its strong growth ambition in Europe.

Emmanuel Eeman, former owner of Pure Services said, “We are very excited to be joining Waterlogic. Waterlogic’s extensive range of dispensers are backed by superior technologies focused on delivering purified, great-tasting water in the most environmentally-responsible way without the need for plasic bottles, giving our customers the high quality sustainable choice they deserve.”
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Pure Services is a recent acquisition as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US, UK, Australia, Spain, France, Germany, and Scandinavia.

Media Contact

Rosanna Turner, Group Marketing Communications Manager
rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and operator of Point-Of-Use (POU) drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to customers worldwide, and has been in the forefront of the POU market, promoting product design and quality, the application of new technologies and world class sales and service. Waterlogic has its own subsidiaries in many markets and an extensive and expanding independent global distribution network in place, reaching over 60 countries around the world. Waterlogic products are currently distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France. More information can be found at www.waterlogic.com

About Castik

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.

 

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KKR and Campbell Soup Company Sign Definitive Agreement for Sale of Arnott’s and Certain Campbell International Operations for $2.2 Billion

KKR

  • KKR to acquire portfolio that includes iconic Arnott’s biscuits and Campbell’s simple meals and snacking brands in markets including Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kong and Japan, and manufacturing operations in Australia, Indonesia and Malaysia
  • Investment to transition certain Campbell International operations to a standalone company with access to significant capital and operational resources to support long-term growth and innovation

SYDNEY–(BUSINESS WIRE)–Aug. 2, 2019– Global investment firm KKR and Campbell Soup Company (“Campbell”) today announced the signing of a stock and asset purchase agreement under which KKR will acquire certain international operations from Campbell (“Campbell International”) for an enterprise value of approximately US$2.2 billion.

Campbell International is a high-quality business that includes snacking and meal brands in the Asia Pacific region with leading manufacturing capabilities and distribution channels in attractive core markets. The majority of Campbell International’s sales are generated by Arnott’s, the iconic Australian biscuit brand with over 150 years of heritage. Arnott’s commitment to quality, innovation and manufacturing excellence is a hallmark of the business, alongside its product range of household names including Tim Tam and Shapes. Campbell International also comprises the regional portfolio of Campbell brands spanning soup, stock, juice and ready meals in markets including Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kong and Japan. KKR will also acquire Campbell International’s manufacturing operations in Australia, Indonesia and Malaysia.

Under the terms of the agreement, KKR and Campbell will enter into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands, including Campbell’s, Swanson, V8, Prego, Chunky and Campbell’sReal Stock, in Australia, New Zealand, Malaysia and other select markets in Asia Pacific, Europe, the Middle East and Africa.

David Lang, Member at KKR, said, “Campbell International represents a unique portfolio of iconic brands that are known and loved by consumers in Australia and across the world. We are privileged and excited to have the opportunity to invest in and grow Arnott’s as an independent business in Australia, in addition to further developing Campbell’s trusted brands across the broader Asian market. This is a milestone investment for KKR, and we look forward to working closely with the Campbell International management team to seek out new and exciting opportunities.”

KKR is making its investment primarily through its Core Investments strategy, which represents capital targeting longer-term opportunities. The Transaction is expected to close within the next six months, subject to customary closing conditions. Further details of the transaction are not disclosed.

KKR was advised by Jefferies, as its financial advisor, and Simpson Thacher & Bartlett LLP and Allens, as its legal counsels.

About Campbell International

Campbell International’s operations include Campbell’s simple meals businesses in Australia, Malaysia, Hong Kong and Japan, and manufacturing in Australia, Indonesia and Malaysia. The centerpiece of the business is Arnott’s, which Campbell acquired in 1997, and is one of Australia’s most iconic brands. Arnott’s regional headquarters are based in Sydney with operations in Sydney, Brisbane, Adelaide and Indonesia. Arnott’s and Campbell International operations (excluding the Kelsen Group) had combined net sales of approximately $885 million in the latest 12 months and employ approximately 3,800 people.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard and Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

Media Contact:
KKR Asia Pacific:
Anita Davis, +852 3602 7335
Anita.Davis@KKR.com
Or
Miles Radcliffe-Trenner (Sard Verbinnen & Co.), +852 3842-2200
KKR-SVC@sardverb.com

KKR Americas
Kristi Huller / Cara Major, +1 212-750-8300
Media@KKR.com

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AgroSavfe raises EUR 35 million, Gimv invests additional resources for further development of biocontrols as a new standard for sustainable crop protection.

GIMV

Gimv is increasing its commitment to AgroSavfe, an innovative food and agro-biotech company developing environmentally friendly plant protection products. As co-founder and lead investor, Gimv participates in a Series C financing round of EUR 35 million, in which Ackermans & van Haaren joins as a new investor, in addition to the existing shareholders who also participate. The financing will support the further development of biocontrols – intended for biological crop protection – as a new standard for sustainable agriculture.

As an emerging food and agro-biotech company, AgroSavfe (Ghent, www.agrosavfe.com) is responding to the challenge for the food and agricultural sector to improve production efficiency in a sustainable way while respecting the environment. Founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology), AgroSavfe designs and develops a new generation of protein-based biocontrols that provide safe, sustainable and efficient protection for seeds, crops and food, without leaving behind harmful chemicals. Over the past years, the company has developed a high-performance technology platform that allows the identification and testing of biocontrols for stability, effectiveness and scalability, all to protect the food chain from farm to fork.

Gimv has supported AgroSavfe from the start as a co-founder and lead investor in a consortium of reputed local and international biotech investors, including Sofinnova Partners, PMV, Agri Investment Fund, K & E, Biovest, Madeli Participaties, VIB and Qbic. Today Gimv participates -in addition to all historical investors- in the Series C financing round of EUR 35 million. With an investment of EUR 10 million, Ackermans & van Haaren is also joining AgroSavfe as a new shareholder.

Patrick Van Beneden, Partner in the Health & Care team of Gimv, about this new phase: “We are delighted with this major step forward and are convinced that AgroSavfe is well placed to contribute to the development of a new standard for sustainable agriculture. As a new shareholder, Ackermans & van Haaren brings additional diversity and expertise to the management of the company and, together with the existing investor syndicate, we look forward to further developing AgroSavfe as a leader in the emerging field of efficient and safe biocontrols for the food and agricultural industry.”

Lieven De Smedt, Chairman of the Board of AgroSavfe, states: “Biotechnology has created significant and unique added value in the Life Sciences, food and chemical markets in recent decades. Today we see the same happening in the agricultural sector, both in the US and in Europe. Long-term success depends not only on robust technology and a strong business-minded management, it also requires long-term shareholders. AgroSavfe has a unique combination of all of the above. We thank our historic shareholders who fully endorse this financing round and welcome Piet Bevernage who -on behalf of Ackermans & van Haaren- wil join our Board. We are all looking forward to taking the company to a higher level.”

The new resources will primarily be used to enhance the further development, registration and commercial scale production of AgroSavfe’s biofungicides and bio-insecticides and for the further strengthening of the business organization. BioFun 1, the first product in the AgroSavfe pipeline, is aimed at controlling fungi on fruit and vegetables. With more than 100 field trials by the end of 2019, the company has demonstrated the strong performance of its advanced biofungicide product: environmentally friendly, as effective as chemical solutions and food safe, as biocontrols leave no harmful chemicals behind. The launch of this first biofungicide product is planned for 2022 in the US fruit and vegetable market, immediately followed by a launch in Europe and other regions globally. In addition, the funds will support the acceleration of the innovative pipeline development for applications against critical food and crop pests and diseases.

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Ardian-Backed Kersia acquires Choisy Laboratories

Ardian

2019 – Kersia, the global leader in food safety, announces the acquisition of Choisy Laboratories (“Choisy”), a leading developer and manufacturer of chemical, biotechnological and biosecurity hygiene solutions based in Canada, from the Trudeau family and Champlain Financial Corporation, in partnership with the Alberta Teachers’ Retirement Fund.

This transaction grows Kersia’s geographical footprint in North America, allowing the company to expand its presence in new sub-segments and to acquire new technologies; it has been completed with the support of Ardian, its majority shareholder.

Founded in 1946 and headquartered in Louiseville (Quebec), Choisy focuses on research, manufacturing and marketing of food safety & biosecurity solutions, with a strong focus on value-added products, notably with eco-labelled solutions thanks to its biotechnological capabilities as well as its strong enzymatic know-how. The company employs 250 people and is primarily active in the Food Service and Hospitality market segments across eastern Canada and in Europe.

With this acquisition, Kersia’s network will comprise 23 plants (o/w 16 owned), with c.1,200 employees and a turnover of c.€250 million. This is Kersia’s fifth strategic acquisition since its acquisition by Ardian in October 2016.

Sebastien Bossard, CEO of Kersia, said: “This acquisition is in line with Kersia’s growth strategy and ambition to become the world’s leading player in Food Safety solutions for the entire food chain from farm to fork. Combining the deep R&D and technological expertise of Choisy and Kersia’s teams, with the support of Ardian, grows our international footprint substantially and strengthens our offering. The complementarity between our two companies is strong, as are the common values we share. We are very pleased to welcome the Choisy team within our group.”

As far as Guy L. Trudeau, President and CEO of the Choisy Group is concerned, he declared: « I’m excited to conclude this transaction because of the great cultural and technological complementarities, as well as the growth opportunities and synergies that will be generated. The food industry and the professional hygiene markets will greatly benefit from the new modern alternatives in biosafety and food service hygiene solutions represented by the Choisy-Kersia offer. I am convinced that the conjunction of the Choisy-Kersia brands will serve as a value and growth accelerator for the company, its employees and shareholders in North America and Europe. »

Thibault Basquin, Head of Americas Investments and Managing Director at Ardian Buyout, added: ”The Ardian team is very proud of what we have achieved with Sebastien Bossard and the Kersia team over the past two years, particularly in terms of Kersia’s transformation. I would like to thank the Trudeau family for entrusting Kersia as the new home for Choisy. This is a great step in our ambitious international development plans, and we look forward to further supporting Kersia’s journey towards growth.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.

Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with 610 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian

ABOUT KERSIA

Kersia is a global leader in biosecurity and food safety with value added products and solutions to prevent diseases or contamination in both animal and humans at every stage of the food supply chain.

Kersia is the name adopted in 2018 by Hypred, Antigerm, Medentech, LCB Food Safety, G3 and Kilco, experts in their fields which came together in 2017 and 2018, bringing together complementary skills and expertise that improve farm performance and add value to the food industry.

Now present in more than 90 countries and employs more than 1,200 personnel, Kersia records a turnover of 250 million euros.

ABOUT CHOISY LABORATORIES

Choisy is seventy-three years of research, development and know-how dedicated to innovation and the creation of added value for the protection of health, working environments, consumer and leisure environments. It is chemistry, biotechnology and application-based biological services at the service of the environment for a healthy environment.

Founded by Yvon G. Trudeau, B.A. and B.Sc., pioneer in professional hygiene in Canada, Choisy has always distinguished itself through the development of its own chemical and biological platforms or bases and through the technological innovation of its products and services.

A fully integrated company from chemical and biological scientific research to the commercialization of its formulas, products and application services, the Choisy Group has 250 employees in four divisions: Choisy Laboratories, GDG Environment, Mikadoweb Solutions and RMS Equipments/Services. These complementary business divisions are all articulated from the head office located in Louiseville, Qc, where the production and research & development activities for Hygiene Solutions are mainly located. The Group also operates three distribution centres and four business centres in Eastern Canada, in addition to the headquarters of GDG Environment located in Trois-Rivières, Quebec and RMS Equipments/Services located in Laval, Quebec.

PRESS CONTACTS

ARDIAN / KERSIA
Headland
VIKTOR TSVETANOV
Phone : +44 020 3435 7469
vtsvetanov@headlandconsultancy.com
CHOISY
Ovation médias
RICHARD BEAUDRY
Phone : 514-645-2040 poste 300
rbeaudry@ovationmedias.com

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Onex to Sell Jack’s Family Restaurants

Onex

Toronto, July 18, 2019 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”) today announced they have agreed to sell Jack’s Family Restaurants (“Jack’s”). The transaction is expected to close in the third quarter of 2019 subject to customary closing conditions and regulatory approvals. The terms of the transaction were not disclosed.“Over the course of our investment, Jack’s significantly accelerated its growth and brought its differentiated concept, high-quality food and exceptional customer service to new communities across the southern U.S.,” said Matt Ross, a Managing Director of Onex. “We’d like to thank Todd Bartmess, Jack’s management team and all of the company’s dedicated employees for being great partners to Onex. We wish them continued growth and success in the future.”

“Matt and the entire Onex team have been wonderful to work with. Their support has allowed us to continue to invest in our people, technology and the growth of our brand,” said Todd Bartmess, Chief Executive Officer of Jack’s. “They were steadfast in their commitment to the Jack’s family and the high standards we set. We’re grateful for Onex’ partnership over the years.”

In July 2015, the Onex Group acquired Jack’s for a total equity investment of $234 million. Upon completion of the transaction, the Onex Group will have received proceeds of approximately $835 million, including prior distributions of $106 million. This results in a gross multiple of invested capital of 3.6 times and a 38% gross rate of return. Onex invested $79 million in Jack’s as a Limited Partner in Onex Partners IV and will have realized $255 million upon completion of the transaction, including prior distributions of $31 million.

About Onex

Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high-net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, private debt and other credit strategies; and Gluskin Sheff’s actively managed public equity and public credit funds. In total, Onex’ assets under management are approximately $37 billion, of which approximately $6.6 billion is shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

The Onex Partners and ONCAP operating companies have assets of $51 billion, generate annual revenues of $31 billion and employ approximately 172,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

Forward-Looking Statements

This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as“believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained here in should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For further information:

Emilie Blouin Director,

Investor Relations Tel: +1.416.362.7711

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Platinum Equity Completes Acquisition of Spanish Seafood Provider Iberconsa from Portobello Capital

Platinum

LOS ANGELES (June 3, 2019) – Platinum Equity today announced it has completed the acquisition of a majority stake in Grupo Ibérica de Congelados, S.A. (“Iberconsa”) from Portobello Capital and affiliates of the company’s founding families. Portobello Capital and members of the Iberconsa management team are co-investing alongside Platinum Equity. Financial terms were not disclosed.

Headquartered in Vigo, Spain, Iberconsa is a global provider of frozen seafood products, including hake, Argentine red shrimp and squid. The company is vertically integrated across the full value chain, including wild catch, processing, commercialization and distribution.

Iberconsa maintains an owned fleet of 45 vessels, five processing plants and four cold storage distribution facilities. Iberconsa’s fleet operates primarily in Argentina, Namibia and South Africa, and the company’s products are sold in more than 60 countries.

Iberconsa CEO Alberto Freire is continuing to lead the business following the transfer of ownership.

The acquisition of Iberconsa is the latest example of Platinum Equity’s increasing momentum in Europe. Last year Platinum Equity completed the $2.1 billion acquisition of Zug, Switzerland and Chesterbrook, PA-based blood glucose monitoring company LifeScan from Johnson & Johnson. The firm also acquired Wyndham’s European vacation rental business for $1.3 billion.

Platinum Equity sold Exterion Media to British media and entertainment group Global in November 2018, and sold Paris-based Worldwide Flight Services to Cerberus Capital Management, L.P. in October 2018 in a transaction valued at approximately €1.2 billion.

Lazard and Deloitte served as financial advisors to Platinum Equity on the acquisition of Iberconsa. Latham & Watkins served as Platinum Equity’s legal advisor on the transaction.

Nomura and Ernst & Young (“E&Y”) served as financial advisors to the sellers. E&Y also served as the sellers’ legal advisor on the transaction.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 250 acquisitions.

About Portobello Capital
Founded in 2010, Portobello Capital is a leading independent Mid-Market Private Equity manager based in Spain that invests in Southern Europe. It has €1.3 billion of assets under management, a team of 27 professionals and 15 companies in its portfolio (Angulas Aguinaga, Centauro and Supera, among others). Portobello Capital manages two primary funds: Fund III was closed at €375 million in August 2014 and it is fully invested, and Fund IV closed in February 2018 and is currently being invested. Portobello Capital is also managing a secondary vehicle with €300 million.

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Triton and ADIA complete acquisition of IFCO

Triton

Frankfurt (Germany), 3 June 2019 – Funds advised by Triton (“Triton”) and Luxinva, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”), have successfully completed the acquisition of 100% of IFCO from Australian Securities Exchange-listed Brambles Limited. Triton and ADIA have an equal share in the investing partnership.

IFCO is the leading global provider of reusable packaging solutions for fresh foods, serving customers in more than 50 countries. IFCO operates a pool of over 290 million Reusable Plastic Containers (RPCs) globally, which are used for over 1.3 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to grocery retailers every year.

About ADIA

Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors. Through its extensive relationships across the industry, the Private Equities Department invests in private equity and credit products globally, often alongside external partners, and through externally managed primary and secondary funds. Its philosophy is to build long-term, collaborative relationships with its partners and company management teams to maximize value and support the implementation of agreed strategies

About Triton

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors.

The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 38 companies currently in Triton’s portfolio have combined sales of around €14.9 billion and around 72,000 employees.

For further information: www.triton-partners.com

Press Contacts

Triton
Marcus Brans

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Axon Partners Group acquires the restaurants of Le Pain Quotidien in Spain

Axon

May 2019. Axon Partners Group has completed the first investment of its industrial investment strategy in “Premium Brands”, with the acquisition of restaurants “Le Pain Quotidien” (LPQ) in Spain as well as the Master Franchise for Spain and Portugal. Currently, LPQ operates four restaurants in Madrid and one in Barcelona.

Le Pain Quotidien was founded in Brussels in 1990 and now has nearly 300 restaurants in 21 countries. LPQ offers a wide variety of organic bakery items and plant-inspired healthy dishes available from breakfast to dinner based on its strong conviction that delivering delicious options that are good for guests and the planet is the now and the future (www. lpq.es).

To complete the investment, Axon has partnered with International Group Services, bringing extensive knowledge of the restaurant and franchise sector. This group operates more than 500 restaurants in Latin America through 19 different brands, including KFC, Juan Valdez, Baskin Robins and Wendy’s, among others.

The investment strategy includes an expansion plan with openings in the main cities of Spain and Portugal with the target of reaching at least the 50 restaurants in the next 10 years. These targets are based on the known growth of this sector and the increased representation of restaurant brands at the expense of independents in this region.

Francisco Velázquez, President of Axon Partners Group comments: “This is Axon’s first investment in the branded restaurant business and we consider it an excellent opportunity as it is a brand of recognized prestige in the world and that still has a long way to go, hoping to position the brand as one of the reference restaurants in its segment in Spain and Portugal. “

Juan Carlos Serrano, President of International Group Services, comments: “We are very happy to have made our first investment in the restaurant sector in Europe where we wanted to have presence after analyzing different opportunities in the Spanish market. It is a sector that we know well and where we hope to provide all our know-how to achieve a rapid and orderly growth of the brand in Spain and Portugal”.

Jerry Gamez, CEO from Le Pain Quotidien comments: “We believe that Healthy Food Ventures (a joint venture between Axon Partners Group and Juan Carlos Serrano) is the ideal partner to develop the brand in Spain and Portugal. We are confident that Healthy Food Ventures, with their shared values as well as their 30 years of experience & track record of growth developing restaurant brands, will deliver our ambitious plans for the region.”

For further information please contact with the Marketing Departmert:
marketing@axonpartnersgroup.com
T. +34 913102894

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PEAK ROCK portfolio company, PRETZELS, INC., to expand state-of-the-art manufacturing facility as part of strategic growth initiative

Austin, Texas,May 7, 2019 – Pretzels, Inc. (“Pretzels” or the “Company”), a portfolio company of Peak Rock Capital, a leading middle-market private investment firm, announced plans to expand its state-of-the-art manufacturing facility in Plymouth, Indiana. Pretzels is a leading manufacturer of pretzels and other snack products, and the expansion increases capacity across a range of products and capabilities. It is anticipated that the additional capacity will be operational in the second quarter of 2020.

Greg Pearson, Chief Executive Officer of Pretzels, said, “This expansion exemplifies Pretzels’ commitment to exceed our customers’ expectations by significantly enhancing our capabilities and capacity. Pretzels’ management and employees are executing on several strategic growth initiatives, including this expansion, which will enable us to support our customers’ commercial success for years to come. On behalf of the entire Pretzels team, I want to thank our loyal customers, dedicated employees, and supportive community for being an integral part of our growth.”

Robert Strauss, Managing Director of Peak Rock Capital, added, “Enhancing Pretzels’ manufacturing capabilities and capacity reflects our belief in the company’s strong growth prospects and is emblematic of how Peak Rock supports its businesses in achieving their growth objectives. We are pleased with Pretzels’ progress to-date and look forward to finding additional ways to support its growth plan in the future.”

The expanded Plymouth facility will complement Pretzels’ current operations in Bluffton and enhance Pretzels’ depth and breadth of offerings to its diverse customer base. Pretzels will add over 120,000 square feet to its existing Plymouth facility, which will create space for additional state-of-the-art production and packaging lines, as well as increased efficiency with existing operations. The facility expansion will also enhance employee amenities and be a catalyst for new jobs in the Plymouth community.

ABOUT PRETZELS, INC.

Founded in 1978, Pretzels, Inc. is a leading manufacturer of pretzels and extruded snack products. Based in Bluffton, Indiana with an additional facility in Plymouth, Indiana, the Company manufactures and distributes traditional, peanut butter filled, flavored, seasonal, and gluten-free pretzels, as well as extruded snack products, to a diverse, blue-chip customer base that includes leading grocers and national brands.

For further information about Pretzels, Inc., please visit www.pretzels-inc.com

ABOUT PEAK ROCK CAPITAL

Peak Rock Capital is a leading middle-market private investment firm that makes equity and debt investments in companies in North America and Europe. Peak Rock’s equity investment platform focuses on opportunities where it can support senior management to drive rapid growth and profit improvement, with expertise in corporate carve-outs and partnering with families and founders seeking first-time institutional capital. Peak Rock’s credit platform focuses on providing bespoke primary financings and making investments in secondary loans for corporate debt and commercial real estate. Peak Rock’s principals have deep expertise in complex situations and cross-border transactions, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities. For further information about Peak Rock Capital, please visit www.peakrockcapital.com.

Media Contact: Daniel Yunger Kekst CNC 212-521-4800

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Italian wholesaler Raico changes name to KRAMP after integration

NPM Capital

Raico and Kramp have been fully integrated and will continue under the name Kramp. The name change ensues from the acquisition of Raico by Kramp, the Dutch supplier of parts and accessories for the agricultural sector, in 2018. The five stores in Italy that focus on the consumer market will keep the Raico brand name.

“We have strengthened our position in the Italian market through the acquisition of Raico,” says Kramp CEO Eddie Perdok. “The two companies have been merged at one location and we are going to build a warehouse with office space in the vicinity of Reggio Emilia. Becoming one company with one name marks a key milestone in our integration.”

New opportunities
“The combination of Kramp and Raico opens up new opportunities for our customers,” says Sales Director Italy Rafael Massei. “We have succeeded in integrating the strengths of Kramp and Raico. This results in a wider range, access to Europe’s largest webshop for agricultural machinery parts and accessories and better services for our customers. Our Italy-wide organisational structure will remain unchanged: our customers will retain their own contact person and will continue to be assured of quick deliveries from our central warehouse in Reggio Emilia.”

Background
Raico has collaborated with numerous suppliers that are specialised in the agricultural sector in Italy for more than 30 years. Kramp, which is an NPM Capital portfolio company, has a similar history, being founded in 1951. Kramp Groep is represented in 24 European countries and achieved a revenue of € 840 million in 2018.

Also read ‘Kramp: The success behind the “Amazon” of technical parts’

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