FDBusiness.com

Pan-European private equity firm IK Investment Partners is selling Europe Snacks, a leading French manufacturer of savoury snacks under private label brands, to Apax Partners, the French private equity firm. The transaction, which is subject to the approval of competition authorities, is expected to close before the end of the year.

For over 20 years, Europe Snacks has specialised in the production of savoury snacks, exclusively under the brands of its retailing clients. With turnover of Eur77 million in 2012, production of 25,000 tonnes and a line-up of more than 200 products, the Vendee-based company is the market leader in France.

With the support of its new shareholder, Europe Snacks will continue its expansion across France and Europe, maintaining a sustained pace of product innovation and industrial investment.

Bruno Candelier, partner at Apax Partners, says: “We are very pleased to acquire Europe Snacks alongside Christophe Fenart, its CEO, and his team. Our aim is to support Europe Snacks in its on-going growth in Europe by providing it with the human and financial resources necessary to continue its innovation and its industrial investments”

Rémi Buttiaux, partner at IK Investment Partners, says: “Turnover grew by 50% in three years under IK’s ownership. With IK’s support, the company carried out a large investment programme, developed its existing product range and launched new product lines. In particular, it built a new production site and increased its workforce by 20%.”

Christophe Fenart, CEO of the Europe Snacks Group, adds: “We thank IK Investment Partners, which has been a committed and inspiring partner in recent years. Apax Partners’ capital investment in our company is excellent news for our employees, customers and suppliers. We will continue our high growth strategy whilst ensuring the sustainability of our relations with all our partners.”