Tag Archives: Agri & Food

Crem International continues its expansion with Welbilt as new owner

Priveq

2018-02-26 12:34

Priveq Investment Fund IV L.P. has together with the other owners of Crem International entered into an agreement to divest Crem International to Welbilt, Inc., a leading global provider of foodservice equipment listed on NYSE.

Crem International is a global company of recognized prestige in the production of professional coffee machines, adding more than 50 years of experience in the market and sales into more than 80 countries. Crem International develops, manufactures and markets coffee machines under three strong brands – Coffee Queen, Expobar and Spengler.

In 2012, Priveq invested as a majority owner in Crem International alongside with SEB Venture Capital, the founders Georg Möller and the Olaso family, and the management in Crem International led by the CEO Sebastian Lindström. Crem International has for the duration of Priveq’s ownership grown to a leading player in the market for professional coffee machines in all important segments.

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GROUPE ETIENNE JOINS ALLIANCE ETIQUETTES

Activa Capital

Alliance Etiquettes announces that Groupe Etienne, specialised in wine bottle labels, has merged with Alliance Etiquettes. This is the sixth build -up for the Alliance Etiquettes “buy-and-build” platform created in 2015.

Following the operation, Alliance Etiquettes will become the market leader in France of premium wine bottle labels, with turnover of €50 million euros and more than 300 employees.

Founded in Doué-la-Fontaine, France, in 1961 by the Etienne family, Etienne has become one of the leading French producers of adhesive and traditional labels for the wine-producing industry. Over the years the group has expanded to include six companies. It was acquired in 2007 via an MBI led by Eric Le Floch with the backing of Paluel-Marmont Capital.

In 2011, the group was taken over by its management backed by Alliance Entreprendre, Paluel-Marmont Capital and Sodero. Eric Le Floch was named Chairman of the Supervisory Board With Philippe Gauthier as Chief Executive Officer. Led by Olivier Laulan,  Alliance Etiquettes is composed of the Groupe Laulan, Editions Enès, Maumy Impression, Imprimerie D3 and Applic’Etains. Olivier Laulan and Groupe Etienne’s management will reinvest alongside Activa Capital.

This merger creates the market leader in France by reinforcing our presence among independent winemakers as well as large négociants and wine cooperatives. It also reinforces our geographical network by adding Anjou, Touraine, and South-East France, said Olivier Laulan, CEO, Alliance Etiquettes.

With this investment, Alliance Etiquettes is further developing its buy-and uild platform. Our ambition is to become the European leader on the market for premium labels. To this end, we will continue to identify and study external growth opportunities, in France and abroad, added Christophe Parier, Partner, Activa Capital.

We have accompanied Groupe Etienne for the past six years, a period of sustained development by both organic and external growth. Joining Alliance Etiquettes is an important new step for the company that creates a leader in wine bottle labels, said Laurent Colléatte, Deputy CEO of Alliance Entreprendre.

About Alliance Etiquettes

Alliance Etiquettes is a French company specialised in high-end labels for the wine, spirits, and agro-food sectors. With Olivier Laulan as CEO, the company generates turnover of €50 million in France and outside France. For further information, please visit our website: allianceetiquettes.com

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 activacapital.com or on Twitter @activacapital

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Litorina invests in Bergfalk

Litorina

Litorina V AB acquires a majority of the shares in Bergfalk, a leading Swedish distributor within fresh food with focus on meat, fish and shellfish. The company has a turnover of over SEK 500 million and offers high quality fresh food to restaurants in Sweden and Finland as well as to grocery retailers. Bergfalk’s former main owners and management will remain as significant owners going forward.

Bergfalk was founded in Stockholm in 1840 and has since grown its turnover to about SEK 550 million. Sweden is the dominant market for the company and in 2016, operations were also established in Finland. Bergfalk offers high quality fresh food to restaurants and grocery retailers, where the restaurant segment accounts for a clear majority of sales. The company has built a strong market position and a respected brand by offering expertise, product quality and refinement combined with local presence, speed, flexibility and good service levels.

“We are very proud of the fantastic growth Bergfalk has achieved in recent years. We have built a strong organisation with talented employees and a well-regarded brand and are looking forward to take the next step in the development by further strengthening our market position, both organically and through more acquisitions” says Lars Bengtsson, CEO and co-owner in Bergfalk. “It feels exciting to continue the journey in close partnership with Litorina and take advantage of their solid experience of building companies and their wide network of industrial advisors who can help us continue our rapid growth and take Bergfalk to the next level.”

“Bergfalk’s strong market position and customer focus combined with management’s proven ability to drive growth, both organically and through acquisitions, make the company an excellent platform for further development and continued expansion.” says Lars Verneholt, Partner at Litorina V Advisor AB, investment advisor to Litorina V AB. “Bergfalk is an exciting investment and we look forward to supporting management in driving the continued development of the company, not least through an intensified acquisition focus in a fragmented market.”

For further information, please contact:
Lars Verneholt, +46 733 86 92 07, Partner, Litorina V Advisor AB
Lars Bengtsson, +46 70 523 30 02, CEO, Bergfalk Group AB

  

Bergfalk was founded in 1840 and is a leading Swedish distributor within fresh food with focus on meat, fish and shellfish. The company offers high quality fresh food to restaurants in Sweden and Finland as well as to grocery retailers. Bergfalk has a turnover of about SEK 550 million and has c.140 employees with headquarters in Stockholm. For more information, please visit www.bergfalk.se.

Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina V Advisor AB serves as an investment advisor to the Swedish private equity fund Litorina V AB. For more information, please visit www.litorina.se.

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Meridian Capital advices SMITH & GREENE Company in its sale to EDWARD DON & Company

Seattle, Washington |  January 10, 2018 – Meridian Capital LLC (“Meridian”) is pleased to announce the acquisition of Smith & Greene Company by Edward Don & Company (“DON”), a portfolio company of Vestar Capital Partners (“Vestar”).  Meridian served as the exclusive financial advisor to Smith & Greene and its shareholders in the transaction with DON.
Smith & Greene, established in 1970 with headquarters in Kent, Washington, is a leading distributor of foodservice equipment and supplies. Over the past 48 years, its deep commitment to its customers and exceptional project execution capabilities have distinguished the Company as a premier supplier to foodservice solutions nationwide.  Smith & Greene will operate as a wholly owned subsidiary of Edward Don & Company and will remain under the leadership team of Brad Smith and Garrett Mullen as Co-Presidents.

“The Meridian team provided us with excellent guidance and support throughout the entire process.  Their ability to capture the key elements of the Smith & Greene story and communicate them to investors proved vital in maximizing our valuation,” commented Garrett Mullen, Co-President of Smith & Greene.  “Brad and I are very excited about the outcome and believe DON and Vestar will be excellent stewards of the culture and legacy we have cultivated over the last several decades.”

Founded in 1921 with headquarters in Woodridge, Illinois, Edward Don & Company is the world’s leading distributor of foodservice equipment and supplies. DON serves national and multi-unit account programs with flexible, customized solutions that meet the needs of both the corporate office and the individual units. As part of the DON family, Smith & Greene will operate as a key presence in the Pacific Northwest.

“We look forward to adding the resources of the Smith & Greene team in the Pacific Northwest Region,” said Steve Don, CEO of Edward Don & Company. “Smith & Greene has an outstanding reputation and great customer relationships in a very attractive geography.”

Brian Murphy, President and Managing Director of Meridian said, “We are thrilled for Brad and Garrett as well as their team.  Entering the transaction process, it was evident that Smith & Greene offered a unique combination of regional leadership and outstanding customer relationships.  We aimed to develop a highly tailored messaging campaign that highlighted these attributes to the leading investors in the industry.  DON represents the ideal partner that will provide Smith & Greene with the resources for continued growth.”

About Meridian Capital LLC
Meridian Capital (www.meridianllc.com), a Seattle-based M&A advisory firm, has served as a trusted advisor to business owners on complex corporate finance, M&A and strategic challenges for over 20 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution.  With a unique combination of financial, transactional and operation professionals on your side, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including consumer, food and beverage, aerospace, manufacturing and technology.
Contact:
Brian Murphy
President & Managing Director
206.224.6156
bmurphy@meridianllc.com
Media Contact:

Lee Keller

The Keller Group

425.898.2700
lee@thekellergroup.com

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KKR: An Affiliate of Sun European Partners LLP Announces That It Has Agreed to Acquire a Majority Stake in Afriflora

KKR

An affiliate of Sun European Partners, LLP (“Sun European Partners”), today announces that it has entered into an agreement with KKR to acquire a majority stake in Afriflora (“the Company”), the world’s largest grower of roses, alongside the Barnhoorn family. The proposed transaction is subject to customary regulatory approvals.

Afriflora is the leading supplier of quality roses at fair trade standards to Europe. Established in 2005 by the Barnhoorn family, Afriflora has over 11,000 employees. The Company is headquartered in Aalsmeer, Holland and operates three farms in Ethiopia covering 500 hectares. It cultivates, produces and sells over 1.1 billion stem roses annually with the majority of these to the European market.

The Barnhoorn family, who are the founders and significant shareholders of the Company, are to remain as shareholders and directors in the Afriflora group. With the support of Sun European Partners, they will continue to run the business with a focus on customer service and implementing best environmental and social practices, and with a sense of responsibility for local communities in Ethiopia.

Peter Barnhoorn, CEO of Afriflora said; “Our new shareholder will help Afriflora to achieve its growth aims and expedite its continued development. Our company has for many years been committed to investing in the local marketplace and building a future not only for the business but also for the workforce who have supported us through our growth and development, and this will not change. We would like to thank KKR for the support they have provided us to date and look forward to an exciting future working alongside Sun European Partners to take this company to the next level.”

Paul Daccus, Managing Director at Sun European Partners, said; “Afriflora is a world leader in an attractive sector that we know very well. We look forward to working with the Barnhoorn family and the management team over the coming years, to support the continued development and success of the business.”

Nicolas Gheysens, Managing Director at KKR, said; “We have been pleased with our partnership with Afriflora and the Barnhoorn family. Over the past years Afriflora has further strengthened its leadership position in its key markets but we are also proud to have contributed – together with the Barnhoorn family – to the development of the region. We wish Afriflora, Sun and the Barnhoorn family continued success.”

Sun European Partners has significant experience making acquisitions in the horticulture sector. Its affiliated portfolio companies include Flamingo Horticulture, a vertically integrated horticulture business.

For further information on Afriflora, please visit www.afriflora.nl/en/.

Sun European Partners was advised by Rabobank, Kirkland & Ellis, Houlihan Lokey, and Ernst & Young. The Barnhoorn family and KKR were advised by William Blair, Clifford Chance, Van Benthem & Keulen, Deloitte, and Londen & Van Holland.

-ENDS-

About Sun European Partners, LLP
Sun European Partners, LLP is a leading private investment advisory firm, focused on identifying companies’ untapped potential and leveraging its deep operational and financial resources to transform results. Sun European is a trusted partner that is recognised for its investment and operational experience, including particular expertise in the consumer products and services, food and beverage, industrial, packaging, chemicals, building products, automotive, restaurant and retail sectors. Since 1995, affiliates of Sun European have invested in more than 345 companies worldwide across a broad range of industries and transaction structures with turnover in excess of €43 billion. Further information on Sun European Partners, LLP is available at www.SunEuropeanPartners.com.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic manager partnerships, hedge funds. KKR aims to generate attractive investment returns 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 its partners’ capital 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. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

For Sun European Partners
FTI Consulting
Fergus Wheeler / Alex Le May
+44 20 3727 1522 / 1308
suneuropean.sc@fticonsulting.com
or
For KKR
Finsbury
Alastair Elwen
+44 207 251 3801
alastair.elwen@finsbury.com

Source: KKR

News Provided by Acquire Media

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UNILEVER to sell its spreads business to KKR for EUR6.825 bn

KKR

London/Rotterdam,– December 15 2017 – Unilever, one of the world’s leading suppliers of Personal Care, Home Care and Food and Refreshment products, has received a binding offer from KKR to purchase its global Spreads business for €6.825 billion on a cash-free, debt-free basis.

Paul Polman, CEO of Unilever said “In April of this year we set out our 2020 programme to accelerate sustainable value creation. After a long history in Unilever we decided that the future of the Spreads business would lie outside the Group. The announcement today marks a further step in reshaping and sharpening our portfolio for long term growth. The consideration recognises the market leading brands and the improved momentum we have achieved. I am confident that under KKR’s ownership, the Spreads business with its iconic brands will be able to fulfil its full potential as well as societal responsibilities.”

Nicolas Liabeuf, CEO of Spreads, who will continue to lead the business, added “There is a positive momentum in the performance of the Spreads business and we are excited about continuing this journey with KKR. We are confident that our business and the entrepreneurial spirit of our people will thrive further under new ownership.”

Johannes Huth, Head of KKR EMEA said: “The strength of the portfolio of consumer brands in Spreads provides a firm foundation for future growth. We look forward to deploying our global network and operational expertise to support the business’s growth ambitions, while continuing to follow Unilever’s responsible sourcing policies, including working towards the goal of sourcing 100 per cent sustainable palm oil by 2019.”

The investment is being funded by both the European and N. American private equity funds of KKR.

The offer is subject to certain regulatory approvals and employee consultation in certain jurisdictions. Completion is expected mid-2018. Unilever intends to return the net cash realised to shareholders, unless more value-creating acquisition alternatives arise. The transaction constitutes a class 2 transaction for the purposes of the UK Listing Rules. Further information about Unilever’s Spreads business is provided below.

For further information:
Unilever PLC
Unilever House
100 Victoria Embankment
London EC4Y 0DY
United Kingdom

Unilever NV
Weena 455
3013AL Rotterdam
Netherlands

Media:

Paul Matthews
+44 775 276 8888
Paul.Matthews@unilever.com

Treeva Fenwick
+44 779 903 3391
Treeva.Fenwick@unilever.com

Jonathan Sibun
+44 777 999 9683
jsibun@tulchangroup.com

Media:
Fleur Van-Bruggen
+31 615 008 293
Fleur-van.bruggen@unilever.com
Media Relations Rotterdam: +31 (0)10 217 4844

Unilever Investor Relations:
+44 (0)20 7822 6830
investor.relations@unilever.com

KKR:
Alastair Elwen
Finsbury
+44 207 251 3801
alastair.elwen@finsbury.com

About Unilever Spreads
Unilever’s Spreads business includes brands such as Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv. It operates across 66 countries around the world. In 2016 the business had a turnover of €3,032 million, EBITDA (before any carveout adjustments under new ownership) of €680 million, and assets of €1,108 million.

This announcement, including the information contained in this release, excludes the South Africa Spreads business. As previously announced, Unilever will acquire Remgro’s 25.75% shareholding in Unilever South Africa Holdings (Pty) Ltd (Unilever SA) in exchange for the Unilever Spreads business in Southern Africa as well as a cash consideration.

About Unilever

Unilever is one of the world’s leading suppliers of Personal Care, Home Care and Food and Refreshment products with sales in over 190 countries and reaching 2.5 billion consumers a day. It has 169,000 employees and generated sales of €52.7 billion in 2016. Over half (57%) of the company’s footprint is in developing and emerging markets. Unilever has more than 400 brands found in homes all over the world, including Persil, Dove, Knorr, Domestos, Hellmann’s, Lipton, Wall’s, PG Tips, Ben & Jerry’s, Magnum and Lynx.

Unilever’s Sustainable Living Plan underpins the company’s strategy and commits to:

* Helping more than a billion people take action to improve their health and well-being by 2020.
* Halving the environmental impact of our products by 2030.
* Enhancing the livelihoods of millions of people by 2020.

The USLP creates value by driving growth and trust, eliminating costs and reducing risks. The company’s sustainable living brands are growing 50% faster than the rest of the business and delivered more than 60% of the company’s growth in 2016.
Unilever was ranked number one in its sector in the 2017 Dow Jones Sustainability Index. In the FTSE4Good Index, it achieved the highest environmental score of 5. It led the list of Global Corporate Sustainability Leaders in the 2017 GlobeScan/SustainAbility annual survey for the seventh year running. Unilever has pledged to become carbon positive in its operations by 2030. For more information about Unilever and its brands, please visit www.unilever.com. For more information on the USLP: www.unilever.com/sustainable-living/

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic manager partnerships, hedge funds. KKR aims to generate attractive investment returns 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 its partners’ capital 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. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Cautionary Statement/Safe Harbour:

This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements related to underlying sales growth and underlying operating margin. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’, or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the “Group”). They are not historical facts, nor are they guarantees of future performance.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever’s global brands not meeting consumer preferences; Unilever’s ability to innovate and remain competitive; Unilever’s investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; the effect of climate change on Unilever’s business; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2016 and the Unilever Annual Report and Accounts 2016.

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FSN Capital V acquires a majority stake in Gram Equipment

Fsn Capital

FSN Capital V (“FSN Capital”) has signed an agreement to acquire a majority stake in Gram Equipment, a global market leader in advanced process equipment for the consumer ice cream industry’s largest producers. New ownership will lead Gram Equipment to further global growth.

FSN Capital has signed an agreement to acquire the 116-year-old Danish company, Gram Equipment.

Over the last three years, Gram Equipment has achieved excellent growth rates of 15 percent annually, primarily through international expansion. In the same period, the company has more than tripled its earnings.

FSN Capital V acquires a majority stake in Gram Equipment

“Gram Equipment is a market leader in the production of advanced process equipment for leading international ice cream producers. The company has shown impressive growth. It now embarks on new growth ventures, not least in emerging markets and new customer segments. We look forward to supporting Gram’s continued growth,” says Thomas Broe-Andersen, partner in FSN Capital Partners, the investment advisor to FSN Capital.

FSN Capital also sees opportunities for further growth through strategic acquisitions.

In 2014, Gram Equipment merged with WCB Ice Cream, through which management succeeded in realising major synergies. Gram Equipment CEO, Lasse Viegand Hansen, looks forward to continued growth under the new owners: “With Procuritas, we integrated the acquisition of WCB Ice Cream and turned Gram Equipment into a global leader in its field. We’ve enjoyed several years of solid growth. Now we’re looking forward to the next phase and continued growth. FSN Capital will secure the financial and management resources we need to continue to expand with our customers around the world.”

Currently, Gram Equipment has more than 350 employees and is headquartered in Kolding. The company had revenues of 650 million DKK in 2016 and forecasts a turnover of 800 million DKK in 2017.

FSN Capital was advised by Alantra, Gorrissen Federspiel, White & Case, Bain & Company, PwC, Valcon, Implement, Ramboll, and JLT. Financing is provided by Danske Bank.

 

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Ardian enters into exclusivity to become majority shareholder of DRT alongside founding families and Tikehau Capital

Ardian

This shareholding reorganization maintains the independence of DRT and aims at giving the group the means to pursue actively its growth ambitions, both organically and externally.

Paris, November 30, 2017 – Ardian, the independent private investment company, has entered into exclusivity with some family shareholders and Tikehau Capital to acquire a controlling stake into Les Dérivés Résiniques et Terpéniques (“DRT”). The proposed transaction values DRT at approximately €1 billion and is fully supported by DRT’s management team which will remain in place and is headed by its CEO Laurent Labatut. This transaction would be a further step in the company’s development path as many individual shareholders and Tikehau Capital have decided to reinvest part of their proceeds alongside Ardian.

Created in 1932 and headquartered in Dax (France), DRT is a global leading producer of ingredients derived from plant-based chemistry, mainly from pine trees. In that respect, DRT fits perfectly within two of Ardian’s core verticals, namely ingredients and fine chemical. With a turnover estimated at €500m in 2017, DRT is a truly international company with more than 80% of its business made outside of France, of which around 25% in the Americas and more than 10% in Asia. The group employs close to 1,300 people and is operating through a global footprint with four production sites located in France, two in the USA, three in India and one in China.

The two main families of ingredients produced by DRT are terpenes and rosins derivatives. They provide mainly olfactory or tackifying/stickiness properties and are used in various resilient and growing end-markets like Flavors & Fragrance, Health & Nutrition, Adhesives & Coatings, Agriculture, Chemical Intermediates and Energy. DRT has built strong positions on each of those markets thanks to its advanced innovation capabilities (more than 50 people dedicated to R&D), its close partnership with customers, its industrial process know-how with constant investment into extraction and distillation capacities, and its long-term secured sourcing of natural & renewable resources.

DRT is at the forefront of sustainable growth and development. This is a key value for Ardian, acting as a responsible investor. Through a sustainable forest management sourcing, DRT is a green-impact best-in-class player. DRT industrial processes valorize renewable resources and adhere to principles of environment-friendly practice. DRT has also invested significantly into green energy, with a biomass cogeneration plant in France satisfying the vast majority of its energy needs.

DRT has enjoyed a rapid development phase over the past few years with a strong support from Tikehau Capital. In particular, in 2016, DRT made two significant steps in the USA with the $140m acquisition of Pinova Inc. from Symrise and the construction of a complementary new greenfield plant. Overall, over the past 3 years, the group has invested more than €85m in organic growth projects.

Should the transaction be consummated, Tikehau Capital would recognize a capital gain estimated at c. €153m for the sale of its entire stake in DRT.

Thibault Basquin, Managing Director Ardian Mid Cap Buyout, declared: “We are very pleased to partner with Laurent Labatut and his team. DRT has a unique green positioning and its strong culture and values fit Ardian ones. This transaction is also a new example on how we can accompany a family-owned company in a new transition phase”. Olivier Personnaz, Director Ardian Mid Cap Buyout, added: “We have been very impressed by the quality of DRT people and their innovation expertise, we look forward to supporting them in the growth project aiming at reinforcing DRT on its markets through both organic and external growth”.

Laurent Labatut, CEO of DRT, said: “We are very happy to welcome Ardian as a reference shareholder of DRT. They clearly share the management team’s willingness to accelerate the development of the company. Ardian’s arrival alongside the historical shareholders reinforces the independence of DRT and represents a new step in our history. Together, we will contribute to enhance DRT’s leadership position”.

Christian de Labriffe of Tikehau Capital, added: “We were welcomed by the family shareholders as a shareholder of DRT in 2014 and we have been supporting the growth strategy led by the management since then. We are delighted to be associated with DRT’s management team and Ardian for this new growth phase. This transaction will provide DRT with the financial means to pursue its development and consolidate its global leading positions”.

Financing for the proposed transaction is underwritten by BNP Paribas, Crédit Agricole CIB and Société Générale CIB.

The proposed transaction remains subject to several conditions including customary approvals by the antitrust authorities and signing of a definitive agreement.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America 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 more than 470 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 640 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

Follow Ardian on Twitter @Ardian

 

ABOUT TIKEHAU CAPITAL

Tikehau Capital is an asset management and investment Group which manages €12.6bn of assets, with shareholders’ equity of €2.3bn. The Group invests in various asset classes (private debt, real-estate, private equity and liquid strategies), including through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs 185 staff in its Paris, London, Brussels, Madrid, Milan, Seoul and Singapore offices.

Tikehau Capital is listed on Euronext Paris, compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)

www.tikehaucapital.com

PARTIES INVOLVED IN THE TRANSACTION

Ardian

  • Ardian: Thibault Basquin, Olivier Personnaz, Alexis Manet, Manon Massoni
  • M&A advisor: Raphaël Financial Advisory (Benoît O’Mahony)
  • Legal advisor: Latham & Watkins (Corporate: Gaëtan Gianasso, Louis Paumier, Elise Pozzobon, Louise Gurly – Financing: Xavier Farde, Carla-Sophie Imperadeiro – Structuring: Xavier Renard, Yann Auregan) – Antitrust: Hugues Vallette Viallard, Adrianne Salaün)
  • Buyer Due Diligence:
    • Commercial: Advancy (Sébastien David, Thomas Dubouchet, Barthélemy Grave, Timothy Chilton)
    • Financial: Deloitte Finance & Operations (Frédéric Steiner, Jean-Philippe Grosmaitre, Renaud Adam, Tony Gies, Thomas Meleard)
    • Tax: Taj (Olivier Venzal, Eric Couderc)
    • Legal: Latham & Watkins
    • ESG: Deloitte (Nicolas de Jenlis)
    • Insurance: Siaci Saint Honoré (Jonhanne Charbit, Nicolas Rivière)
    • Environmental: Ramboll (Michel MacCabe, Gordon Cobb)

 

DRT

  • M&A advisor: Rothschild Transaction R (Pierpaolo Carpinelli, Martin Volatier, Augustin Delouvrier, Edouard Lagarrigue de Meillac, Anaïs Pons)
  • Legal advisors: Orrick Rambaud Martel (Saam Golshani, Guillaume Kessler, Julien Bensaid, Anna Leitchenko), Jeausserand Audouard (Jérémie Jeausserand, Alexandre Dejardin, Carole Furst, Eléonore Gaulier)
  • Vendor Due Diligence:
    • Financial: EY Transactions Services (Laurent Chapoulaud, Hugo Primas, Victor de Fromont, Benjamin Piquet)
    • Tax: EY Transaction Tax (Matthieu Autret, Benjamin Pique, Baptiste Gachet) and EY Tax (Johan Gaulin)

 

Financing parties

  • CA-CIB (Thibery Gleizes, François de Montlivault, Alexandre Duhem)
  • BNP Paribas (Charles-Edouard de Cabrol, Louis Ghesquière Dierickx, Oceane Savoldelli)
  • Société Générale CIB (Patrick Sandray, Frédéric Fouillen, Imane El Alaoui, Alexis Raymond)
  • Legal advisor: Gide (Eric Cartier-Millon, Nathalie Benoit)

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Gimv is set to become the new majority shareholder of the AgroBiothers group, alongside its founding family

GIMV

Gimv and the Jenoudet family today announced that they have signed an agreement under which Gimv will acquire an equity stake in AgroBiothers, a European group specialising in the production and distribution of animal hygiene and care products as well as pet accessories.

The AgroBiothers group, based in Cuisery (Saône-et-Loire, France), is a European leader in the production and distribution of pet care products. With a turnover approaching EUR 65 million, the Group employs 250 people and distributes its 4,000 references in over 20 countries.

AgroBiothers has quadrupled its turnover over a fifteen year period, thanks to a dynamic organic growth strategy that is based on efficient logistics, and integrated production tools for its main product ranges. In addition it undertook acquisitions in France and abroad. AgroBiothers is now recognised as a prime partner for online and traditional food and specialist retailers, supplying a comprehensive range of high-quality pet care products.

AgroBiothers is well positioned in a buoyant and resilient market. It has strong organic growth prospects, particularly in the hygiene and care sector as a result of European regulatory developments. The Group also aims to step up its external growth strategy in Europe, in what remains a fragmented market, with a view to strengthening its commercial presence or expanding its product range.

The family-owned AgroBiothers never had an external investor before. Gimv will become majority shareholder as a result of the OBO (owner buyout). CEO Julien Jenoudet – majority shareholder up till now – will reinvest significantly in this OBO, and will remain at the helm of the Group.

With a presence in four European countries, a specialisation in the consumer goods sector, and expertise in the field of international buy and build, Gimv will bring to along its knowledge of European markets and of the challenges specific to the multichannel BtoB distribution sector.

Julien Jenoudet, Chairman of AgroBiothers: “I am delighted that Gimv has chosen to invest in AgroBiothers. Together we will refine the company’s marketing and commercial approach and step up our expansion into the European market, to take advantage of the many growth opportunities. Gimv’s Connected Consumer team is clearly committed to AgroBiothers’ future growth, and was quick in understanding the possibilities for expansion and the challenges our industry faces. ”

Guillaume Bardy, Principal in Gimv’s Connected Consumer platform, concludes: “AgroBiothers’ major assets, namely its perfect understanding of BtoB distribution, its expertise of regulation for hygiene and care products, and its deep comprehension of both market and customer needs, make it well equipped to become an integrated European multichannel distributor of pet care products. We are extremely proud that Julien Jenoudet and his family have chosen Gimv as the first external investor in their company. ”

The transaction has been submitted to the competition authorities for prior approval.

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Bridgepoint to acquire master franchise of BURGER KING® in UK

Bridgepoint

Bridgepoint today confirmed it has reached an agreement with Burger King Europe GmbH (“BKE”), an affiliate of Restaurant Brands International Inc. (“RBI”), to become the UK master franchisee of BURGER KING®, with exclusive rights to the brand in the UK. It will simultaneously acquire Caspian UK Group, one of the UK’s largest BURGER KING® franchisees with 74 restaurants. Terms of the transaction were not disclosed.

The transaction with BKE will see the establishment of a new BURGER KING® UK entity which will be controlled by Bridgepoint with BKE retaining a minority stake. The new entity will enter into a 20 year master franchise agreement giving it the right to be the custodian of the BURGER KING® brand in the UK, control over the brand’s proposition in the UK and the right to roll-out new stores across the country.

The transaction will also see Bridgepoint support a highly experienced management buy-in team, headed by chairman-designate Martin Robinson whose experience includes Casual Dining Group, where he is also chairman. Martin was former chairman of Center Parcs and Wagamama. The new team will lead the company’s management of the UK territory as well as the roll-out of further stores across the country.

“We are thrilled to announce this agreement to increase the pace of growth for the BURGER KING® brand in the UK, one of the world’s largest quick service restaurant markets,” said José Cil, President of the BURGER KING® brand. “The Bridgepoint team has extensive experience in the UK market and a strong track record investing in and developing leading brands in the quick service restaurant industry, which positions them well for success.”

Bridgepoint said: “BURGER KING® is a pre-eminent global consumer brand with a robust and growing presence in the UK market, well-liked by consumers. This is an opportunity to work with a highly regarded management buy-in team to re-invigorate a much-loved brand and to grow the existing UK business.”

Martin Robinson, chairman designate of the new BURGER KING® UK entity, said: “BURGER KING® is an iconic global brand with a long-standing heritage in the quick service restaurant market. Working with Bridgepoint and BKE, the team believes it can deliver growth and further opportunities for the brand to flourish in the UK market.”

Founded in 1954, the BURGER KING® brand is the second largest fast food hamburger chain in the world. In the UK there are currently over 500 restaurants.

Advisers were:

– For Bridgepoint: Travers Smith (Legal, ESG), Harris Williams & Co (Corp Fin), Parthenon EY (Commercial), Deloitte (Financial, Tax, Pensions), Marsh (Insurance), Freeths (Property)- for Caspian UK Group: KPMG (Corporate Finance, Legal, Transaction Services, Tax, Pensions)

– For management buy-in team: Macfarlanes (legal)

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