Tag Archives: Consumer brands

Divestment of Grand Group and the Grand Hôtel property to FAM

Investor
2021-04-19 08:15

Patricia Industries, a part of Investor AB, and its subsidiary Vectura, have agreed to divest Grand Group and the Grand Hôtel property, respectively, to FAM AB. The transaction includes the hotel operations Grand Hôtel, Lydmar Hotel and The Sparrow Hotel, all located in Stockholm, as well as the Grand Hôtel property.

The total transaction value amounts to SEK 3.9bn, of which approximately SEK 0.3bn for Grand Group and approximately SEK 3.6bn for the Grand Hôtel property. Net proceeds from the transaction are approximately SEK 1.5bn following Vectura debt amortization.

“The management team has done a great job in developing the Grand Group, further improving its customer offering and efficiency. However, we have concluded that the hotel segment does not fit with our investment priorities. Thus, it is a natural step for us to divest to FAM, a new, capable long-term owner who can further develop the Grand Group. The divestment further sharpens the focus in our portfolio”, comments Investor’s CEO Johan Forssell.

“In FAM we have found a great new home for Grand Group. The divestment frees up resources that we will use to continue to develop Patricia Industries and our existing companies. For Vectura, the divestment of the Grand Hôtel property allows more focus on expanding the core business within community services and office premises”, comments Christian Cederholm, Head of Patricia Industries.

Considering the relationship between Investor and FAM, the transaction has been evaluated by a third party. In this case Investor has engaged EY for a fairness opinion of the transaction. The individual Boards of Directors’ decisions have of course been taken without participation of directors who could be assumed to have a conflict of interest.The transaction is expected to be completed, subject to regulatory approval, during the second quarter 2021.

About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.

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Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

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KKR Invests in Adopt A Cow

KKR

April 18, 2021

KKR’s latest investment in Asia that supports industry-leading companies enabled by technology

BEIJING–(BUSINESS WIRE)– Leading global investment firm KKR today announced that KKR has invested in Adopt A Cow, a fast-growing, direct-to-consumer dairy company in China that integrates digital solutions into its core operations. Adopt A Cow’s new funding round was co-led by KKR and DCP Capital.

Founded in 2016, Adopt A Cow primarily produces and sells its pure milk, yogurt, cheese sticks and milk power products and has quickly become a trusted high-end dairy brand in China, thanks to its vertically integrated business model covering alfalfa growing, dairy farming, milk processing, and technology-enabled marketing. Over the past five years, the company has become one of the fastest growing direct-to-consumer brands in China, and has accumulated more than 10 million loyal customers.

Adopt A Cow’s focus on product quality and safety, and its well-established digital sales strategy – including partnerships with opinion leaders, Tmall and other prominent ecommerce platforms – position it well to benefit from the rapid growth of China’s millennial and Generation Z populations. These groups are entering their prime consumption years, digitally savvy and increasingly seeking higher-quality goods and services.

Adopt A Cow will use the new funding to accelerate the construction of modernized dairy farms and smart production factories, bring in high-quality Australian dairy cows and further integrate its digital operation platform to enhance efficiency, improve product quality and brand competitiveness. KKR will support the company’s business growth by combining its deep experience investing in China’s technology and consumer sectors with its global industry expertise and network of resources.

“Today marks an exciting new chapter for Adopt A Cow as we accelerate our strategy to bring our high-quality dairy products to more consumers in China,” said Xu Xiaobo, Founder of Adopt A Cow. “KKR has a proven track record of investing in the dairy sector and providing value-added operational support to homegrown technology champions, and we look forward to working with them to take Adopt A Cow to its next level of success.”

“Consumption upgrades and food safety are among the key focused themes for our investments in China. As a traditional industry, the dairy sector in China is going through an exciting period of technological innovation, driven by the fast development of IoT, increasing penetration of Ecommerce and digital marketing, and higher demand for naturally healthy and nutritious products,” said Chris Sun, a Managing Director on KKR’s China investment team. “We are thrilled to be backing Adopt A Cow and its forward-thinking leadership team as the company carries out its disruptive strategy to change the way dairy is produced, marketed and sold to customers.”

“China’s economic growth is benefitting from the expansive and rapid adoption of digital technologies that are bringing convenience into people’s everyday lives,” said Karen Zhang, who leads KKR’s technology strategy in China. “This is creating attractive opportunities to support the innovative Chinese companies, like Adopt A Cow, that are transforming their industries for the digital economy.”

KKR is making its investment from its Asian private equity fund. This investment in Adopt a Cow builds on KKR’s long track record in China’s dairy sector, which includes previous investments in China Modern Dairy and Asia Dairy. This is KKR’s latest investment that supports industry-leading companies enabled by technology. Recent technology-focused investments for KKR in China include Walnut Programming, a children’s programming education company; Huohua Logic, a leading online education platform specializing in mathematics and science for children; and Xingsheng Youxuan, a leading community-based group ecommerce company.

About Adopt A Cow

Adopt A Cow was founded by Xu Xiaobo with a mission of providing high-quality dairy products to consumers through its vertically integrated business model, covering dairy farming, alfalfa growing, farm visits, feed processing, as well as milk processing and sales. Xu Xiaobo built the company’s first large-scale modernized dairy farm in Gucheng, Hebei Province in 2014, before launching the Adopt A Cow brand in October 2016 in Hangzhou, Zhejiang Province. Through crossover collaboration, content co-creation and interactive marketing, Adopt A Cow has become a trusted high-end diary brand in China.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

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Red Collar announces expansion of Oklahoma pet food manufacturing plant

Arbor Investment

FRANKLIN, TN. — Red Collar Pet Foods is adding 85,000 square feet to its Clinton, Oklahoma manufacturing plant. The $5.7 million expansion will be built on the south side of the existing building to help meet the high demand for products. This investment follows a recent expansion of the facility’s packaging capabilities.

“The Clinton plant continues to be one of our fastest growing plants in Red Collar Pet Foods coast-to-coast network” said Greg Wolking, the company’s chief operating officer. “When completed, the warehouse expansion enables capacity for future growth and additional hiring.”

Construction on the new 85,000-square-foot warehouse is set to begin at the end of the year.

“Congratulations to Red Collar Pet Foods and the community of Clinton on this exciting expansion,” said Oklahoma Governor Kevin Stitt. “Oklahoma is an ideal distribution point for the nation because of our central location and proximity to 88 million customers within a 500-mile radius, and Red Collar’s location in Clinton off of I-40 makes them uniquely capable to capitalize on a great logistical opportunity.”

The current workforce at the Clinton facility is 111. A fourth shift added at the end of 2020 resulted in 20 new hires. Nationwide, Red Collar has almost 800 employees at its headquarters and across its six manufacturing sites located in Orangeburg, South Carolina; Washington Court House, Ohio; Miami, Oklahoma.; Clinton, Oklahoma.; San Bernardino, California and Joplin, Missouri.

“Red Collar Pet Foods is one of thousands of manufacturing operations to find success in our state,” said Scott Mueller, Oklahoma secretary of commerce and workforce development. “We are excited for the new job opportunities this brings to Clinton and look forward to continuing to work with the company to help them meet their goals.”

Red Collar was created December 2018 as a result of Arbor Investments’ acquisition of Mars Petcare’s Exclusive Brands business. In February 2019, the newly rebranded company acquired Joplin, Missouri-based Hampshire Pet Products, a leading manufacturer of baked and cold-formed pet treats.

The company also announced in July 2019 plans to expand its headquarters in Franklin, Tennessee with an investment of $3.65 million. The company projected this investment would add 30 new jobs in the Franklin area by 2024.

https://www.petfoodprocessing.net/articles/14651-red-collar-announces-expansion-of-oklahoma-pet-food-manufacturing-plant

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VEGAMOUR Announces $80 Million Minority Growth Investment by General Atlantic to Fuel Continued Expansion as a Category Leader in Hair Wellness

April 13, 2021

VEGAMOUR, a premium, direct-to-consumer, clean hair wellness brand, today announced $80M in funding from General Atlantic, a leading global growth equity firm. The Company will use the new funds to further its organic e-commerce growth, launch additional products and expand into new channels and geographies.

Founded in 2016 by CEO Daniel Hodgdon, VEGAMOUR is a plant-based hair wellness brand that incorporates a comprehensive range of naturally-derived products to support healthy hair growth and wellness. All of VEGAMOUR’s products are clean, vegan and formulated with proprietary phytoactive ingredients clinically proven to help promote abundant and radiant looking hair. VEGAMOUR has emerged as a differentiated solution from traditional hair care products, which are often formulated with potentially harmful and synthetic chemicals. Through its expanding line of best-selling topical serums, organically-sourced supplements and natural hair maintenance and scalp health products, VEGAMOUR hopes to redefine the hair care category with its holistic, inside-out approach to hair wellness. Hair loss affects approximately 35% of women – amounting to nearly 60 million people in the U.S. alone – and VEGAMOUR is directly addressing this large unmet need by providing a vegan and efficacious product line for all women.

Hodgdon, a longtime advocate and producer of sustainably-sourced, plant-based ingredients for the skincare and hair care industry, said, “After years of observing how things thrive in nature, it’s clear that when it comes to healthy hair, we should consider the body’s entire ecosystem. Hair wellness is impacted by so many factors – aging, stress, sleep, our environment and especially the things we put into and onto our bodies. At VEGAMOUR, we’ve developed a 360° approach to hair health that seeks to address these issues and support a balanced physiological ecosystem conducive to healthy, beautiful hair. As we look ahead, we are excited to be partnering with General Atlantic and leveraging the firm’s deep expertise in helping beauty brands scale globally. We look forward to bringing continued product innovation to the market and making VEGAMOUR accessible on a wider scale as we meet growing consumer demand for natural and sustainable beauty products.”

“VEGAMOUR has been a leader in creating a new category in hair wellness and occupies a differentiated position in the marketplace as an efficacious, vegan and clean solution,” said Andrew Ferrer, Managing Director at General Atlantic. “In partnership with Dan and the VEGAMOUR team, we are excited to accelerate the company’s growth and build upon its proven model.”

As part of the transaction, General Atlantic’s Andrew Ferrer and Lexie Bartlett will join the VEGAMOUR Board of Directors.

VEGAMOUR was advised by Financo | Raymond James and Sidley Austin LLP. General Atlantic was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  Additional terms of the transaction were not disclosed.

About VEGAMOUR

VEGAMOUR is a digitally native, vegan beauty company. Founded in 2016, VEGAMOUR is committed to creating clean, sustainable, plant-based products that have a positive impact on people’s lives and the planet we all share. For more information, please visit https://vegamour.com/.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Cara Hilfer
VEGAMOUR cara@ihpr.us

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Kinnevik emerges as the largest shareholder in Kolonial after particpating in a funding round co-led by Softbank and Prosus

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced its participation with NOK 200m in Kolonial’s recent funding round. The NOK 2.2bn round was co-led by Softbank and Prosus, and encompassed NOK 1.2bn in primary equity and NOK 1.0bn in secondary equity acquired from other existing shareholders. After the round, Kinnevik emerges as the largest shareholder in Kolonial, owning 21% of the company.

The newly raised capital will be used to fund Kolonial’s international expansion plans, beginning with Finland, with a new fulfilment center due to open in Helsinki later this year. The company is further in the earlier stages of preparing a 2022 launch in the EUR 220bn German grocery market. In preparation of becoming a global company and the imminent international expansion, Kolonial is refreshing its brand proposition and changing its name to Oda.

Oda’s mission is to be the most effective online grocer in the world, and it has world leading picking efficiency of 212 UPH (units processed per labor hour at the warehouse), compared to 169 UPH of the leading UK online grocer in 2020. Its unique business model is built on Nordic principles of employee wellbeing and a commitment to sustainability, as well as proprietary warehouse automation and data-driven processes.

Georgi Ganev, CEO of Kinnevik commented:” We are excited by the strong traction in Oda and its international expansion plans. Since our first investment in 2018, Karl and his team have consistently impressed us with their combined focus on growth and efficiency, achieving world class productivity levels in their fulfilment operations. We are happy to welcome fellow leading global tech investors Softbank and Prosus as shareholders, and we look forward to working with them in support of Oda’s growth plans and international expansion.”

In Kinnevik’s Year-End Release 2020, Kinnevik’s investment in Oda was valued at SEK 1,087m. Out of Kinnevik’s approximate NOK 200m participation in the new funding round, some 170m were injected already in 2019 in the form of a convertible bridge note, converting into shares at a customary discount to the valuation in the funding round. During the last months, Oda has consistently beaten its budgeted growth, set new record levels in fulfilment efficiency, and made significant strides in its preparations for international expansion. These developments, in combination with the new funding round, which values the business at NOK 7.5bn post-money, provide strong reference points for a valuation of Kinnevik’s investment in Oda that would correspond to a value uplift of more than 40 percent to just below SEK 1.6bn.

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

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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Vibrant Foods announces acquisition of Fudco, leading UK premium nuts and spices brand

Exponent

Vibrant Foods, leading producer and distributor of South Asian foods in the UK and across continental Europe, has announced its second acquisition in the last month, with the purchase of Fudco. Fudco, founded in 1979, began with a single retail store on Ealing Road, Wembley, serving quality foods to the community, and has since become the UK’s leading premium Asian foods brand; the portfolio comprises nuts, spices, dried fruits, pulses, speciality flours, and other Asian foods.

Led by brothers Sheilesh and Akhil Shah, the food arm of Fudco employs 68 people across its headquarters and factory in Willesden and retail store on Ealing Road, and has remained a family run business since its foundation. Today the business distributes an impressive 2,500 SKUs and is found in over 1,000 stores nationwide.

The new partnership will bring Fudco’s food brands into the Vibrant Foods portfolio, alongside the loved and recognised Asian foods brands of TRS, East End and Cofresh, as well as the recently acquired Everest Dairies, the UK’s leading paneer brand. This deal continues Vibrant’s strong tradition of investing in pioneering, heritage-focused, family-owned businesses, helping owners to exit while retaining the business’ legacy. It also cements Vibrant Foods as one of Europe’s leading, branded, Asian foods businesses by growing the group’s existing consumer demographic and reach.

Vibrant

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Deli Home continues international growth with Ardian as a strong partner

Ardian

06 April 2021 Expansion Netherlands, Gorinchem

Dutch made-to-measure manufacturer and distributor of high-quality timber-based home improvement products embarks on pan-European growth strategy with Ardian’s support.

Gorinchem, the Netherlands, April 6, 2021 – Ardian, a world leading private investment house, has signed an agreement to support Deli Home in its international growth plans. Deli Home – “The Digital Carpenter” – is a Dutch made-to-measure manufacturer and distributor of high-quality timber-based home improvement products such as doors, storage and floors and its products are marketed via a combination of do-it-yourself retailers, builders’ merchants and online markets. This transaction marks the first investment in the Netherlands for the Ardian Expansion team. Together with Ardian, Deli Home’s management team will pursue its strategic roadmap to grow the business further and build a pan-European player.
Deli Home is based in Gorinchem, the Netherlands, and has a heritage dating back to 1869. With revenues of more than 340 million Euro and 1,250 employees, the company holds a market leading position in the Benelux. Over the past years, the management team – under the leadership of Victor Aquina (CEO) and Jan-Willem Smits (CFO) – has transformed the company from a distributor to a value-added manufacturer of made-to-measure timber-based home improvement products with a fully integrated digital configurator platform, a broad logistics network and category management capabilities.
Victor Aquina, CEO of Deli Home, said: “We have a clear growth strategy that is focused on two pillars: On the one hand empowering consumers to use digital solutions for facilitating custom home-improvements and on the other hand, further expansion across Europe. Given that two of the key markets we want to address are France and Germany, Ardian with its strong European footprint and network is an ideal partner for us. The Ardian team has impressed us with their deep understanding of the market and will provide valuable insights from its expertise. We look forward to capitalizing on this opportunity and growing the business to reach its full potential.”
Dirk Wittneben, Head of Ardian Expansion Germany, added: “Deli Home has a strong and seasoned management team that has built a convincing growth platform with a proven M&A track record, as underpinned by the acquisitions of Numdata and Weekamp Deuren. We see significant growth potential through further buy & build and expanding the company’s footprint outside of the Benelux. We look forward to working in partnership with management and supporting the company on its growth path.”
The transaction remains subject to the authorization by the competition authorities. The financial terms of the transaction were not disclosed.

LIST OF PARTICIPANTS

  • Ardian

    • Dirk Wittneben, Florian Haas, Nicolas Münzer, Janine Paustian
    • Legal Corporate / Finance: Freshfields (Harald Spruit, Mandeep Lotay)
    • Financial: Deloitte (Egon Sachsalber, Tanya Fehr)
    • Tax / Structuring: EY (Anne Mieke Holland)
    • Commercial / Operational: Roland Berger (Sameer Mehta, Switbert Miczka)
    • Tech / Digital: WDP (Christoph Nichau, Johannes Dierkes, Simon Ludwigs)
    • ESG: PwC (Emilie Bobin)
    • Environmental: ERM (Werner Schulte)
    • M&A: ABN AMRO (Eric Altmann, Tammo Gunst)
    • Debt Advisory: Deloitte (Thomas Schouten)

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$110bn 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 more than 700 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.
Ardian on Twitter @Ardian

ABOUT DELI HOME

Deli Home is a Benelux market leading producer and distributor of made-to-measure, do-it-yourself and building supplies.
With revenues of over more than 340 million Euro and 1,250 employees and known brands as CanDo, Skantrae, Weekamp, Lundia and Bruynzeel our products are well known by professionals and consumers. Deli Home, based in Gorinchem, the Netherlands, has sales-offices and production locations all across Europe (Belgium, Portugal, Czech Republic, Poland, France and Hungary).

Visit the Website

PRESS CONTACTS

Ardian – Headland

GREGOR RIEMANN

griemann@headlandconsultancy.com +44 792 080 2627

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HL Display acquires CoolPresentation to improve market position in the Netherlands

Ratos

HL Display is acquiring CoolPresentation, a provider of shelf merchandising solutions for grocery retail in the Netherlands. The acquisition will strengthen HL’s customer base and position as a leading supplier for in-store merchandising and communication solutions to grocery retailers in Europe.

HL Display is strengthening its market position through the acquisition of CoolPresentation, a provider of shelf merchandising solutions based in Heerenveen, the Netherlands. The company has an annual sale of around €4m. Founded in 1997, CoolPresentation has built a strong position in Dutch retail, providing high quality products and service levels to both grocery retail, pharmacies and brand suppliers.

“Since the founding in 1997, CoolPresentation has grown into a well-established supplier of shelf merchandising in Dutch food retail,” says Björn Borgman, CEO of HL Display. “Their passion for retail and excellent service levels make CoolPresentation a perfect fit for HL. Furthermore, merging both companies’ product ranges will create a strong offer to an expanded customer base which will support our market position as a leading supplier of in-store communication and merchandising solutions for the grocery industry.”

“With the acquisition of the CoolPresentation we gain access to new customers in the Netherlands and consolidate the market further enabling both production and other synergies. The acquisition is another step in HLs journey to further strengthen its market leadership position across Europe, with both organic and inorganic growth,” says Joakim Twetman, Head of Business Area Industry, Ratos.

The acquisition was completed on 1st of April 2021.

For further information, please contact:
Joakim Twetman, Head of Business Area Industry, Ratos
+46 70 339 16 66
joakim.twetman@ratos.com

Björn Borgman, CEO, HL Display
+46 722 64 17 90
Bjorn.Borgman@hl-display.com

 

About HL Display:
HL Display is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 295,000 stores, helping customers to grow sales, inspire shoppers, drive automation, and reduce waste. The HL Display Group has its headquarters in Stockholm, Sweden and sales companies covering 26 markets as well as distributor partners covering the remaining markets globally. The company has 1,000 employees and net sales of 1,520 MSEK.

About Ratos:
Ratos is a business group consisting of 11 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 33 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Evergreen acquires Baileys Fertilisers Holdings Pty Ltd

Exponent

Evergreen has recently completed the acquisition of Baileys Fertilisers Holdings Pty Ltd (“Baileys”), a leading player in the consumer branded garden products market in Australia.

Baileys is a fourth generation family-owned garden care business based outside Perth in Western Australia. The business has a portfolio of growing media and granulated plant and lawn fertilisers sold under the popular Baileys brand which is well-recognised and respected in the Western Australian garden care market. This acquisition brings a new strong brand, manufacturing and distribution capabilities in Western Australia which complements Evergreen’s presence in this market.

Baileys is Evergreen’s fifth acquisition under Exponent’s ownership.

Evergreen

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EURAZEO BRANDS SIGNS EXCLUSIVITY AGREEMENT TO ACQUIRE MAJORITY OF FRENCH PET FOOD BRAND ULTRA PREMIUM DIRECT

Eurazeo

Eurazeo Brands, the division of Eurazeo focused on high growth, differentiated consumer brands, has signed an exclusivity agreement under which it would invest 68 million euros in Ultra Premium Direct as a majority shareholder. Eurazeo is investing alongside co-founders Sophie and Matthieu Wincker and Eutopia, existing minority shareholder via Otium Consumer, which would reinvest in the transaction via its new fund.

Founded in 2013, Ultra Premium Direct (“UPD”) has quickly become a leading player in the French premium pet food market. As a digitally-native brand, it has a strong and engaged community, and was selected as one of the French Tech 120 in 2021. Thanks to its unique positioning and direct approach, Ultra Premium Direct aims at democratizing premium pet food, offering natural products which cater to pet needs at an attractive price point, directly through its own website and subscription service.

Ultra Premium Direct is focused on improving pet health and well-being. The company develops high protein products with no artificial colourings or preservatives in collaboration with veterinarian nutritionists to ensure balanced and appropriate recipes. Its R&D capabilities and owned industrial plant in Agen, south of France, has enabled strong control over its value chain and contributed to the local roots of the brand.
Eurazeo Brands would leverage its proven brand building, operating and consumer expertise to partner with UPD and support the company’s growth. Specifically, Eurazeo will invest in UPD’s digital and e-commerce capabilities to strengthen the brand and its community, and work alongside management to enhance UPD’s product and service offering. In addition, Eurazeo would utilize its global network to help UPD in its international expansion, notably in Europe, and provide its internal CSR expertise to support the brand’s purpose-driven mission.
This majority investment in Ultra Premium Direct demonstrates Eurazeo Brands’ willingness to pursue its European development, after the acquisition of Swedish brand Axel Arigato in November 2020. It would represent Eurazeo Brands ninth investment since May 2017.

Laurent Droin, Managing Director of Eurazeo Brands, said:
The pet food category benefits from very attractive underlying trends towards pet humanization, premiumization and search for quality and transparency. We are convinced that Ultra Premium Direct is a modern and differentiated brand as a result of its direct approach to consumers, without intermediaries, and high quality product offering distributed at a fair price point. We are eager to work alongside Sophie and Matthieu Wincker – co-founders of Ultra Premium Direct – and their team to support the future growth of the company by accelerating momentum in France and expanding internationally, penetrating new geographies.

Sophie and Matthieu Wincker, Co-founders of Ultra Premium Direct, said:
We are thrilled by Eurazeo’s investment into the company. Ultra Premium Direct was a pioneer in the pet food category and has become a leading player in France. We are delighted to benefit from Eurazeo’s support for our next journey, notably for our European expansion, and are convinced Eurazeo will be the right partner given their successful track record and capabilities. Together, we will further fulfill our mission to make quality pet food accessible to as many dogs and cats as possible.

About Ultra Premium Direct
Ultra Premium Direct is a French premium petfood brand. Founded in 2013 by Sophie and Matthieu Wincker, two animal-lovers, the brand differentiates itself, offering high quality products catering to dogs and cats’ natural needs, distributed exclusively through its own website, with an attractive price point. Ultra Premium Direct relies on a short and vertically integrated value chain thanks to owned production and logistic facility in Agen, allowing to offer a differentiated experience to consumers. The brand is highly authentic, mindful, and animates a strong community of loyal and engaged fans, sharing Ultra Premium Direct values and acting as brand ambassadors.

About Eurazeo
Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15.0 billion from third parties, invested in over 450 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep 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

About Eutopia
Eutopia is a Paris & NYC based investment fund dedicated to consumer startups with a purpose. Eutopia’s investment thesis is driven by current shifts in consumer behavior. We back founders who are rethinking the way we eat, shop, sleep and feel through a “good for me, good for the communities, good for the planet” approach. The team manages 170 million euros and has invested in 26 companies including Oh My Cream !, Hari&co, Tediber, Tiptoe or Nous Epiceries Anti-Gaspi. For more information please visit: www.eutopia.vc.

EURAZEO CONTACTS

PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
mail : pbernardin@eurazeo.com
Tél : +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF
COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33 1 44 15 76 44

PRESS CONTACT

MAITLAND/amo
DAVID STURKEN
mail: dsturken@maitland.co.uk
Tel: +
44 ( 7990 595 913

 

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