Tag Archives: Agri & Food

Eurazeo brands completes investment in Dewey’s Bakery Michael P. Senackerib named Dewey’s CEO Scott Livengood assumes Executive Chairman Role

Eurazeo

Paris, October 1st, 2020 –
Eurazeo is pleased to announce it has completed a $25 million minority investment in Dewey’s Bakery, a clean-label cookie and cracker manufacturer based in Winston-Salem, North Carolina. Eurazeo Brands, the division of Eurazeo focused on differentiated consumer brands with global growth potential, is investing alongside Chairman and majority owner Scott Livengood, and incoming Chief Executive Officer Mike Senackerib, who joins Dewey’s Bakery as part of Eurazeo’s investment.

Founded in 1930, Dewey’s Bakery produces premium soft baked cookies, crisp cookie thins, and savory crackers featuring delicious, authentic, and bakery-inspired flavors. Dewey’s is a leading manufacturer of custom-branded products for the largest food retailers in the US and an emerging national brand in natural, specialty, and mainline grocery channels. The Company also operates several retail bakeries in the Winston-Salem area with longstanding roots in the local community.

Scott Livengood, Chairman of Dewey’s Bakery, said:

“Dewey’s could not be more excited to partner with Eurazeo Brands and Mike Senackerib on this new chapter of growth for our company. Dewey’s has established a strong presence in both specialty food retailers and supermarkets across the country driven by our amazing products, capabilities, and team. With access to Eurazeo’s deep resources and know-how, paired with Mike’s proven leadership working on some of the most iconic brands in F&B, we aim to become a leader in our category in the years ahead.”

Senackerib is a seasoned food and beverage executive and brings deep category operating expertise to Dewey’s as CEO. Highly regarded as a leader and brand builder in the food industry, he has 30+ years of experience across a wide array of successful brands. Mike held senior executive and marketing roles at Nabisco (Mondelez), Kraft Foods, and Campbell Soup Company. He served as Senior Vice President and General Manager of Nabisco’s portfolio of cookie and cracker brands, including Oreo’s, Ritz, Wheat Thins, Triscuit, and others. Most recently, Senackerib was co-founder of start-up food company Farm & Oven Snacks.
“Dewey’s could not be more excited to partner with Eurazeo Brands and Mike Senackerib on this new chapter of growth for our company. Dewey’s has established a strong presence in both specialty food retailers and supermarkets across the country driven by our amazing products, capabilities, and team. With access to Eurazeo’s deep resources and know-how, paired with Mike’s proven leadership working on some of the most iconic brands in F&B, we aim to become a leader in our category in the years ahead.”
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Mike Senackerib, CEO of Dewey’s Bakery, added: Leveraging its proven brand building, operating, and consumer expertise, Eurazeo Brands will partner with Dewey’s to accelerate and enhance its marketing activities and manufacturing capabilities in order to grow both its branded product business and support its longstanding private label division.

Jill Granoff, CEO of Eurazeo Brands, said:

“We have followed Dewey’s success over the years and are delighted to partner with Scott and Mike to drive further growth. We believe Dewey’s unique products, proven manufacturing capabilities, strong customer relationships, and leadership team are a recipe for continued momentum in a growing category.”

Jim Goldman, senior advisor to Eurazeo and a seasoned food and beverage executive, and George Birman, principal at Eurazeo Brands, will join Dewey’s Board of Directors. This marks Eurazeo Brands’ seventh investment since May 2017 and its third investment within food and beverage.

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Blue Horizon Corporation raises its stake in New Roots, a Swiss alternative cheese producer

Blue Horizon

By Blue Horizon

Zurich, 7 September 2020 – Blue Horizon Corporation, a pure play investment company with focus on investments in innovative companies in the Food 4.0 sector,  today announced that it has raised its equity stake in New Roots, a Swiss based producer of  alternative cheese based on cashew milk in a capital increase completed in August 2020.

Founded in 2015 and based in Thun, Switzerland, New Roots is an innovative vegan cheese start-up. The company’s vegan cheese alternative is made from homemade organic cashew milk and the same artisanal techniques of fermentation and ripening as traditional cheese. It offers a selection of tasty kinds of cheese and joghurts,  including cream cheese, ricotta, camembert and fresh cheese with different herbs and spices, enabling consumers to transition to a plant-based diet. The two largest Swiss retailers, Coop and Migros, both added products of New Roots to their product range.

The cashew nuts are supplied by a partner farm in Vietnam, which was selected based on high quality and human rights standards. Although the cashew nuts are imported from Vietnam, the company’s ecological footprint is smaller than it would be with traditional cheese. From one kilo of nuts 2 kilos of cheese can be produced. With cow milk, in contrast, it takes up to 12 liters for one kilo of cheese. Started in the kitchen of Co-Founder Freddy Hunziker, who sold his first product to the local Eco store around the corner, the start-up quickly developed into a 20 person enterprise. In 2019, New Roots won the Swiss Economic Award in the category Production / Trade & Industry. The investment of Blue Horizon in the course of a capital increase is a major step in the history of the young company.

Freddy Hunziker, Co-Founder & CEO of New Roots said: “We are very excited to have Blue Horizon as a partner which enables us to drive forward new initiatives, increase our product range and capabilities and enhance our brand and network. We share a common vision and look forward to further working together on offering delicious, ethical and sustainable alternatives to traditional cheese made from animal milk.”

Björn Witte, CEO of Blue Horizon, said: “New Roots already has a unique growth story and the company is very well positioned to capitalize on the growing demand for alternative dairy. In particular, the products of New Roots appeal to the taste of consumers. We are happy to bring our experience and operational capabilities into partnership with the young and talented team in order to shape the future of plant based cheese in Switzerland and globally.”

About Blue Horizon Corporation
Blue Horizon Corporation has shaped the growth of the market for alternative proteins since the beginning and accelerates it through targeted investments as a pure play industry pioneer.,. The company aims to sustainably transform the global food industry through investments into companies who are replacing animal proteins with healthy, alternative protein sources across the global supply chain. Blue Horizon was founded in 2016 and is based in Zurich and Los Angeles. The company launched its first venture fund in 2018. Since then, it has completed over 50 seed and venture capital investments in the alternative protein food tech sector and raised more than CHF 350 million. Its business model offers a unique market access from Seed to Consolidation via funds and direct investment platforms throughout all stages of asset lifecycles. More on www.bluehorizon.com

Media contact
Martin Meier-Pfister, IRF
Phone +41 43 244 81 40
bluehorizon@irf-reputation.ch

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Solar Foods closes series A financing for its first commercial factory

Lifeline Ventures

Solar Foods, producing a unique single-cell protein out of thin air, has closed its series A financing round with €15M new financing. Today’s announced investment extends the Series A financing round to total €18.5M, including the €3.5M convertibles raised in late 2019.

The largest food-tech financing round in Finland to date was led by Fazer Group with Bridford Investments Limited, Agronomics Limited, Lifeline Ventures and CPT Capital.

“We are thrilled of our new partners and their vast experience now at Solar Foods’ disposal. This development now enables us to successfully proceed with our planned production facility,” says Dr. Pasi Vainikka, CEO and co-founder of Solar Foods. 

“We have been with Solar Foods from the very beginning and have been extremely impressed with how their team has consistently delivered on all expectations. I am also very happy that this financing round has brought together an excellent group of highly experienced investors who understand the industry thoroughly,” says Juha Lindfors, partner at Lifeline Ventures and chairman of Solar Foods.

New funding enables progress with the commercialisation of Solein®

Solar Foods is the first company capable of producing food by using air-captured CO2 in a complete and continuous mode, including the preparation of the actual final food products. Solar Foods produces an entirely new kind of nutrient-rich protein, Solein®, by using air and electricity as its primary raw materials. This process revolutionises food production, as the production of Solein is non-dependent on agriculture, climate, or the weather.

A new production plant, enabled by the new funds raised, will be a key milestone in Solar Foods’ path in reaching its vision of changing the way food is produced. The new facility is planned to be operational in late 2022 and will enable the commercialisation of new food products based on the novel platform ingredient. Thus far, Solar Foods has already developed 20 different kinds of food products that utilise Solein.

“We are extremely delighted to be able to go forward toward commercialisation of Solein® protein and bringing it on consumer plates. Our first factory will be located in Finland and is aimed to be the world’s first commercial factory producing food out of air-captured CO2. At the start-up phase, our production is estimated to be 5 million meals a year. We want to disconnect protein production from the ever-increasing use of environmental resources. Turning this possibility into a reality is an exciting prospect,” says Pasi Vainikka. 

Powered by possibilism

Solar Foods has already carried out basic engineering for its production facility and is now entering the permitting process. The unit is planned to demonstrate the future of food production in an urban environment. It is designed to include the Solein Experience Hub and a future-food bar to provide citizens with an entirely new level of transparency in food production, which is why the production facility is also called the demonstrator.

“New technologies can open windows to the future. Through them, we can see possibilities that were an impossibility only a handful of years ago. It is not a case of opportunism, nor a question of optimism or pessimism. Producing Solein every day is already a tangible reality. At Solar Foods, we are possibilists who want to encourage and empower all people to be part of the solution: creating a better world through better food choices.

Our vision is to change the way food is produced, and the demonstrator’s product is aimed to be permitted as a global novel food. The world has hope. Food of the future is not a utopia – it is happening now,” Pasi Vainikka continues.

Natural protein of genuine sustainability

Solein® is a complete protein with all the essential amino acids that is light in both taste and appearance. It vanishes into daily meals, while simultaneously maintaining its rich nutritional value and offering a unified solution that caters to virtually every imaginable meal of today. This new, genuinely sustainable and natural protein also provides exciting opportunities for entirely new foods of tomorrow.

Producing Solein can take place in the toughest of environmental conditions, e.g. the desert, the Arctic, or possibly even in space. Because its production process does not involve irrigation, pesticides, fertilizers applied on open land or animals, Solein stands as the world’s most sustainable protein.

https://www.londonstockexchange.com/news-article/tidm/headline/14671578

Press assets

For more information:

Pasi Vainikka, D.Sc. (Tech.), CEO, Solar Foods Ltd., tel. +358 40 5825 987, pasi@solarfoods.fi

 

About Solar Foods

Solar Foods produces protein using air and electricity. Solar Foods revolutionises food production with a method that is not dependent on agriculture, the weather, or the climate. The company was founded in Espoo, Finland, in 2017 by Dr Pasi Vainikka, Dr Juha-Pekka Pitkänen, Sami Holmström, Jari Tuovinen, Professor Jero Ahola and Janne Mäkelä as a spinoff from VTT Technical Research Centre of Finland and the LUT University. www.solarfoods.fi

Agronomics Limited

Agronomics is an AIM-listed investment company centered on the nascent fields of cellular agriculture, precision fermentation and synthetic biology. The Company invests in technologies that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals, as well as being fundamental to feeding the world’s expanding population.

Bridford Investments Limited

Bridford Investments Limited is part of the Bridford Group, founded in 2018 by a group of investors that have worked together since 2007.  The group has investments in sustainability; creative industries (music, photography and fashion); fintech and tech-enabled businesses; and fundamental technology.  Its focus is on backing founder-led businesses with long-term growth potential, ideally those concerned with societal or environmental welfare. 

CPT Capital
CPT Capital is the venture arm of a leading private family office. As a long-standing dedicated investor in the alternative protein space, they partner with the best and the boldest companies driving the food and materials technology revolution. From plant-based protein to recombinant proteins to cell-based meat, CPT Capital backs the most promising solutions from seed all the way through to sale or IPO and longer term. 

Fazer Group

Fazer, The Food Experience Company, enables people to enjoy the best moments of their day. In 1891, the young Karl Fazer opened his first café with a mission to make food with a purpose – and a passion to create moments of joy for all the people around him. Shaping the next tastes, traditions and food experiences, Fazer is going Towards Perfect Days. Fazer wants people to experience the Northern Magic it creates and builds on its strong heritage, consumer first approach and innovations to create the sustainable food solutions of the future. The Group focuses on fast-moving consumer goods, operates in eight countries and exports to around 40 countries. In 2019, Fazer Group had net sales of 1.1 billion euros and almost 9,000 employees. Fazer’s operations comply with ethical principles that are based on the Group’s values and the UN Global Compact. 

Northern Magic. Made Real. 

Lifeline Ventures

Lifeline Ventures is an early-stage venture capital firm founded by serial entrepreneurs. Lifeline often starts working with founders before they have launched their first product. Companies we have invested in include Oura, Sulapac, Supercell and Wolt. Lifeline Ventures led the seed round of Solar Foods in 2018.

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Eurazeo Brands announces investment in Waterloo Sparkling Water

Eurazeo

Paris, 19 August 2020–Eurazeo, today announces a minority investmentin Waterloo Sparkling Water (“Waterloo”). The investment will provide Waterloo with additional operational resources, brand building expertise, and capital to grow its business by accelerating its product and marketing innovation. This marks Eurazeo Brands’,the division of Eurazeo focused on differentiated, high-growth North American and European consumer brands with global growth potential,second investment within food and beverage and sixth investment since inception.

Austin, Texas-based Waterloo was founded in 2017 and has quickly becomeone of the fastest-growing and largest independent sparkling water brands in the United States, with distribution in over 13,000 retail doors, including Whole Foods Market, Costco, Target, Kroger, Walmart, Publix, H-E-B/Central Market and others. Jason Shiver, CEO of Waterloo, who has driven the company’s rapid growth over the last three years, will continue to lead the company alongside COO Jeff Arnold. Eurazeo Brands joins a consortium of investors led by Flexis Capital, including Moore Strategic Ventures, JW Levin Management Partners, and Waterloo Capital. Waterloo’s managementteam is rolling over a significant stake as part of this transaction.

Jason Shiver, CEO, Waterloo, said: We’re very proud of the company we’ve built so far, the distinct consumer appeal of our products and the tremendous support of our retail distribution network. Choosing the best partners for Waterloo was critical to continuing our momentum and we’re confident that Eurazeo, Flexis Capital, and JW Levin will provide deep brand-building experience and industry relationships that will be key to accelerating our growth, while Moore Strategic Ventures’ financial acumen will add firepower to our capabilities. We also want to thank the CAVU Ventures team for their support to date.

Jill Granoff, CEO, Eurazeo Brands, said: Sparkling Water is a large and resilient category, with sales of $4 billion in the U.S. alone and growing double digits annually. Waterloo has experienced phenomenal growth and strong consumer loyalty since launching in 2017, and is well positioned to capture additional market share under the company’s impressive leadership. We look forward to joining forces with Flexis Capital, JW Levin and Moore Strategic Ventures, and partnering withJason and his team to drive further success.

|2|Terms of the transaction were not disclosed.

About Waterloo Sparkling Water

In 2017, after recognizing that consumers were seeking, but not finding, healthy, authentic, transparent and better-for-them beverage choices that tasted great, the team dared to challenge expectation and launched Waterloo Sparkling. A rebel at heart, Waterloo has been breaking the mold since day one and is driven by its cofounder’s firsthand knowledge of the importance of food and beverage choices. The Austin-based brand is a BOLD take on sparkling water, making its mark by focusing on fruit-inspired flavor and aroma and delivering a richer, more authentic taste. Waterloo is made with Non-GMO Project verified and Whole 30 Approved flavors, free of calories, sodium, sugar and artificial sweeteners. For the benefit of its fans and the environment, Waterloo has only ever been produced in aluminum cans made with BPA-free liners.

About Eurazeo

Eurazeo is a leading global investment company, with a diversified portfolio of €18,5 billion in assets under management, including €12,9 billion from third parties, invested in over 430 companies. With its considerable Private Equity, real estateand private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

•Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid.

•Eurazeo is listed on Euronext Paris.•ISIN: FR0000121121 -Bloomberg: RF FP -Reuters: EURA.PA

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Ardian-backed Kersia acquires Manchester-based Holchem, and becomes Europe’s second largest food safety company

Ardian

he acquisition is the second largest add-on since Ardian invested in the company in 2016

Paris, May 29th, 2020 – Kersia, a global leader in biosecurity and food safety, announces the completion of the acquisition of Holchem from Ecolab. With this important milestone, Kersia becomes a leader in the UK hygiene sector and the second largest player in Europe. Holchem will join Kersia’s global operations platform that spans across Northern Europe, North and South America, the Middle East and China. The Holchem acquisition is being supported by additional capital from Ardian, one of the world’s leading private investment houses.

Based near Manchester, Holchem is the leading provider of hygiene and food safety solutions and technology in the UK. A large majority of the company’s sales are directed to the food, beverage and dairy industries, with additional sales to the food service, retail, institutional and farm sectors. With a turnover of approximately €55 million, Holchem operates from two industrial sites located in Bury and Liphook, primarily serving the UK market.

Following the acquisition of Kilco in July 2018, which enabled Kersia to penetrate the UK livestock sector (dairy, poultry and swine), the Holchem transaction allows Kersia to continue its development in this key geography, leveraging Holchem’s strong positioning to provide leadership in the British Food&Beverage Hygiene market.

Joined together, Kersia and Holchem will be able to benefit from major growth opportunities in the context of high global health and food safety standards, which are continuously rising. In the UK market, Kersia and Holchem are truly complementarity, both in terms of geographies and sectors, offering an important synergy opportunity, especially as country-specific standards and customer requirements become increasingly more stringent. Both companies share common values via their strong focus on environment and social responsibility and offer innovative digital solutions to enable their clients’ productivity.

During the ongoing Covid-19 public health crisis, both companies have been and remain strongly committed to supporting their customers and wider communities by refocusing operations towards the traditional products which have been most in demand, such as disinfectant and hand-hygiene solutions, while also continuing to support the rising demand for biosecurity protocols and enabling knowledge-sharing and best practices.

Kersia was formed as a new company in 2016 after Hypred acquired Antigerm, LCB Food Safety, G3, Kilco and Choisy Laboratories, each acquisition carefully chosen for their respective technologies and leading and complementary market positions. Kersia aims to improve the performance of the agricultural and food industries by preventing the spread of animal and human diseases, often caused by contamination in the food supply chain. The company offers also solutions to the healthcare sector. Following this acquisition, Kersia will operate in more than 120 countries with a workforce of over 1,500 people and a turnover of more than €300 million.

Sébastien Bossard, CEO of Kersia declares: “We are thrilled to welcome the Holchem teams to the Group. Their DNA, the quality of their work, the experience of their employees, their solutions, their services, strongly oriented towards the food industry in the UK and Ireland, make them very complementary to our current operations. This merger will enable us to make new solutions and services available to Kersia’s customers throughout the world, and in the same way, will provide Holchem’s local teams and customers with Kersia’s solutions to help combat contamination by pathogens of the food chain in one of the world’s largest food processing regions. We look forward to working together with Holchem Management team and employees and continuing Holchem’s successful development.”

Stuart Middleton, Managing Director of Holchem adds: “Over the years, Holchem has built a prominent position in the hygiene and food safety solutions market in the UK and Ireland thanks to its comprehensive and innovative offering. We can be proud of what our managers and employees have achieved. We are very excited to join the Kersia Group of companies, which has become a global leader in food safety in a few years, and we look forward to contributing to Kersia Group’s growth, both in our home markets and globally. We believe that this important transaction will bring many opportunities to all our employees and our customers in the combined organization.”

Thibault Basquin, Head of Americas Investments for Ardian Buyout, concludes: “Once again, we are extremely proud to support Kersia in this major deal, marking a new stage in the Group’s development. This is the sixth build-up Kersia has made in less than four years. The partnership with Holchem will enable Kersia to become truly global and Europe’s second largest player in food safety. The group is now more capable than ever to become a trusted partner in a rapidly growing market and will continue to work tirelessly to meet the global demand.”

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 animals and humans at every stage of the food supply chain.  The company offers also solutions to the healthcare sector
Following the acquisition, Kersia will operate in more than 120 countries with a workforce of over 1,500 people and a turnover of more than €300 million.
www.kersia-group.com

ABOUT HOLCHEM

Holchem Group Limited is a food safety specialist providing hygiene solutions and technology primarily to the food, beverage, dairy, food service, institutional and retail sectors. Holchem operates in the United Kingdom and Ireland with a turnover of approximately €55 million.
www.holchem.co.uk

ABOUT ARDIAN

Ardian is one of the world’s leading private equity firms with $96 billion under management and/or advisory in Europe, America and Asia. The company, which is majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance.
Through its commitment to sharing the value created with all stakeholders, Ardian contributes to the growth of companies and economies around the world. Based on its values of excellence, loyalty and entrepreneurship, Ardian benefits from an international network of 680 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages the funds of 1,000 clients through its five investment pillars: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian
www.ardian.com

LIST OF PARTICIPANTS

Buyer :

Kersia: Sébastien Bossard, Stéphane Le Dallic, Béatrice Texier, Alban Houssin
Ardian: Thibault Basquin, Nicolas Darnaud, Alexandre Vannelle, Alexis Manet, Jean-Baptiste Hunaut

Advisors :

M&A advisors:

Evercore (Tom Massey, Greg-Henri Bize, Maximilian Rempel)  

Legal advisors:

Corporate
– Brodies (William McIntosh, Alasdair Dunn, Gina Malone, Jennifer Sim)
– Latham & Watkins (Gaëtan Gianasso, Timothée Brunello, Aymerick Fradin)
Financing
– Latham & Watkins (Xavier Farde, Carla-Sophie Imperadeiro)
– Structuring – Latham & Watkins (Olivia Rauch-Ravise, Yann Auregan)

Buy-side due diligence:
Finance: Accuracy (Frédéric Loeper, Andrés Rothschild)
Commercial: Bain (Jérôme Brunet, Andrea Gondekova, Ghofrane Maaroufi)
Operations: Advancy (Jérôme Salomon, Vincent Delaeter)
Legal & social: Brodies (William McIntosh, Alasdair Dunn, Gina Malone, Jennifer Sim)
Tax: Arsene Taxand (Mirouna Verban, Terry Khayat) and Alvarez & Marshal (Ian Flemming, Jagdip Bharij, Gurvinder Vim, Amish Patel)
Environmental: Malcolm Hollis (David Smith, Elliott Lockyer)
Regulatory: Socotec (Patrick Levy, Nazanin Golbamaki, Valérie Migaud-Sapin)

PRESS CONTACTS

ARDIAN/ KERSIA
Headland
VIKTOR TSVETANOV
Tel: +44 207 3435 7469
VTsvetanov@headlandconsultancy.co.uk

 

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Biotalys’ first biocontrol proves consistent with high efficacy in global fruit and vegetables field trials

GIMV

06/05/2020 – 09:30 | Portfolio

Ghent, BELGIUM – 6 May 2020 – Biotalys NV, a transformative food and crop protection company, today announced the results from more than 100 field trials with its first, breakthrough biofungicide, BioFun-1, which is on track to launch in the United States in 2022, followed by global market introductions. Developing a new generation of protein-based biocontrol solutions, Biotalys aims to help farmers protect yields and reduce food waste by both preventing crop loss and extending post-harvest protection with sustainable and safe products.

 

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Biotalys announces second closing Series C totaling €45m

GIMV

05/03/2020 – 10:46 | Portfolio

Biotalys NV, a rapidly growing and transformative food and crop protection company developing a new generation of protein-based biocontrols, today announces the second closing of its Series C financing round with € 10 million bringing the total amount of capital raised for its Series C to € 45 million.

The second closing of the Series C round was supported by the current shareholders and includes new investor Novalis LifeSciences. Novalis LifeSciences is an investment and advisory firm for the life science industry, based in Hampton, New Hampshire, USA. Marijn Dekkers, former CEO of Bayer AG and Chairman of Novalis LifeSciences will join the board of directors of Biotalys as an Observer.

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Biotalys announces second closing Series C totaling €45m

GIMV

Biotalys raised an additional €10m welcoming new US investor Novalis LifeSciences

Ghent, BELGIUM – 05 March 2020– Biotalys NV, a rapidly growing and transformative food and crop protection company developing a new generation of protein-based biocontrols, today announces the second closing of its Series C financing round with € 10 million bringing the total amount of capital raised for its Series C to € 45 million.

The second closing of the Series C round was supported by the current shareholders and includes new investor Novalis LifeSciences. Novalis LifeSciences is an investment and advisory firm for the life science industry, based in Hampton, New Hampshire, USA. Marijn Dekkers, former CEO of Bayer AG and Chairman of Novalis LifeSciences will join the board of directors of Biotalys as an Observer.

Marijn Dekkers commented, “Novalis LifeScience is very interested in break-through biotechnologies that can substitute synthetic pesticides. The protein-based biocontrol solutions developed by Biotalys are a promising novel class of these future food and crop protection agents.”

Proceeds from the financing will be used primarily for the further development, registration and commercial scale production of Biotalys’ biofungicide product and to continue to strengthen the company’s unique discovery platform. The launch of the first biofungicide is scheduled for 2022 in the fruit and vegetables market in the US. In addition, the funds will support the accelerated development of the innovative pipeline with applications in critical food and crop pests and diseases.

“On behalf of all the shareholders of Biotalys, we extend a warm welcome to our US-based investor Novalis LifeSciences. Marijn Dekkers will add his broad agro-industrial expertise to our very active board and help us drive the company to the next level. Biotalys being now well advanced in the discovery and development of a strong pipeline of innovative biocontrols, is meeting the fast evolving farmers’ and consumers’ expectations. A game changing AgTech company delivering on its promises.” said Lieven De Smedt, Chairman of the Board of Biotalys.

About Biotalys

Biotalys is a rapidly growing and transformative food and crop protection company developing a new generation of protein-based biocontrol solutions, shaping the future of sustainable and safe food supply. Based on its ground-breaking technology platform, the company has developed a broad pipeline of effective and safe products with novel modes of action, addressing key crop pests and diseases across the whole value chain, from soil to plate. Biotalys’ unique protein-based biocontrols combine the high-performance characteristics and consistency of chemicals with the clean safety profile of biologicals, making them ideal crop protection agents for both pre- and post-harvest applications. The company is on track to launch its first biofungicide in the US in 2022, followed by global market introductions.Biotalys was founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology) and has raised € 61 million to date from local and international specialist investors. The company is based in the biotech cluster in Ghent, Belgium. More information can be found on www.biotalys.com.

For further information, please contactMarieke Vermeersch, Corporate Communications ConsultantT: +32 (0)9 261 06 84E: marieke.vermeersch@biotalys.com

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Kinnevik to invest SEK 150 million in MatHem‘s SEK 500 million funding round, alongside leading pension company AMF

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that it has committed to invest an additional SEK 150m in a funding round of approximately SEK 500m in MatHem. Also participating in the funding round is Swedish institutional investor AMF, investing SEK 280m to become MatHem’s third largest shareholder with an ownership stake of approximately 10%, as well as MatHem’s existing shareholders Verdane and Clas Ohlson.

MatHem is Sweden’s leading independent pure-play online grocery retailer with a strong household brand built over the past ten years. The company offers a broad range of grocery products and adjacent household consumables, catering to more than half of Swedish households.  With the additional investment of SEK 150m, Kinnevik has invested SEK 1.1bn in total in the company and has an ownership stake of 36%.

With more than SEK 650 billion in assets under management on behalf of four million customers, AMF is one of Sweden’s leading pension companies, one of the largest owners on Nasdaq Stockholm and one of Kinnevik’s largest shareholders. With the investment of SEK 280m AMF becomes MatHem’s third largest shareholder with a 10% ownership stake.

2019 was a transformative year for MatHem, focused on strengthening the organization to build a solid foundation for future growth. As part of the company’s growth ambitions, and to meet increasing customer demand, part of the raised capital will be used to fund the development of MatHem’s new environmentally certified warehouse in Larsboda, Stockholm. MatHem’s new CEO Johan Lagercrantz joined the company in December, bringing with him a breadth of experience from leading positions in the staffing industry and consumer services and a strong track-record of delivering tangible results. Furthermore, MatHem is today announcing two new independent board directors, Lidia Oshlyansky and Nina Jönsson.

Georgi Ganev, CEO of Kinnevik, commented: “MatHem continues to be at the forefront of the transformation in the grocery space, and a clear leader in its core market. We are delighted that AMF has decided to invest in the company and to be part of this journey. The funding round means that the company is well capitalized for the future, allowing Johan and his team to focus on growing the business and improving operational efficiency.”

Anders Oscarsson, Head of Equities at AMF, commented: “We are excited to invest alongside Kinnevik in MatHem as we share their conviction in the significant opportunity in transforming this large market. We have been impressed by the strong team at MatHem and their plans for the future.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

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Ardian acquires Frulact, a leading producer of added valued ingredients for the food industry

Ardian

Porto, January 16, 2020 – Ardian, a world leading private investment house, announced today that, with the support of Frulact’s management team, it is acquiring Frulact to the Miranda Family. Frulact is an innovative producer of natural fruit-based and plant-based specialty ingredients for the Food & Beverage industry. The company counts on an extensive product portfolio based on fruit & vegetables preps for dairy, ice-cream, desserts, beverages, flavors and plant-based alternatives.

Headquartered in Maia – Porto, Frulact employs more than 750 people, operates 9 facilities across Europe, Africa and North America and sells its products in more than 40 countries, generating nearly €115 million of turnover. The company, founded by the Miranda family in 1987 and led by João Miranda, has a solid track record of growth relying on both organic and acquisitions initiatives.

Ardian will support the management of the company to accelerate its strategic plan and consolidate the group as one of the global leaders in the food ingredients industry, supporting the existing business activities and enhancing its capabilities in adjacent niches and ingredients. Ardian’s strong knowledge of the food ingredients industry, its worldwide network and the support that a leading international private investment firm can offer make Ardian the best partner to identify and promote growth opportunities to transform Frulact into a global leader.

Ardian will rely on the current management team, which will continue being led by Duarte Faria as Chief Executive Officer, to develop its project. Additionally, João Miranda will continue as Non-Executive Chairman of the group.

João Miranda, Non-Executive President of Frulact, commented: “I join all Frulacteans to welcome Ardian and begin this new chapter in Frulact. We’re very pleased with this agreement and partnership, considering that Ardian will bring considerable financial and strategical resources to boost Frulact to become a strong platform, that will aggregate and integrate other adjacent businesses and activities in the added value ingredients industry, and consequently consolidate Frulact’s project, supported by our Human Capital, and allowing the company to exploit a sustainable global footprint”. In addition, he added: “Frulact will continue operating as usual, with the same management team, developing our future growth, innovation, and sustainability strategy, using our Headquarters in Portugal, to bring the company to the next stage of development and rising to a bright future ahead and to bold our aspirations”.

Gonzalo Fernandez-Albiñana, Head of Ardian Buyout Spain (advisor to Ardian France), said: “Frulact and its Management team have the know-how, capabilities and ambition required to consolidate the company as a leading natural food ingredients provider at global level, by expanding and enhancing its technical capabilities and geographical reach. Ardian will support the management in this endeavor with its expertise, network and resources”.

Philippe Poletti, Member of the Executive Committee and Head of Ardian France, said: “This transaction is a good example of Ardian’s expertise in supporting transformation and growth projects in industries we master, while maintaining the legacy of what has been created by the Miranda Family. Our experience helping companies enter new territories, combined with our understanding and respect for the tradition and the corporate values of family businesses make Ardian a preferred partner for family buyouts or carve-outs”.

Frulact is the first investment of Ardian’s Buyout team in 2020. With 50 employees across seven offices in Europe and New York, the buyout team invests in high-quality mid- and large-cap companies, applying transformational strategies to become world leaders in their niche markets.

ABOUT FRULACT

Frulact is a business group, established in 1987, positioned as a top-ranked innovative company in the supply of added value ingredients for the food & beverage industry, namely fruit & vegetables preps for dairy, ice-cream, desserts, beverages, flavors and plant-based alternatives. From the classic and typical to the most exotic combinations, Frulact has the knowledge and experience to create customized and innovative products to serve its customers’ needs. The Group has a global presence across three continents, with nine business units in five countries (Portugal, Morocco, France, South Africa and Canada), and it is ranked among the world’s top five companies in its business.
www.frulact.com

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, North America, Asia, and South America. 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 more than 640 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 more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

PRESS CONTACTS

ARDIAN
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