Qualium sells La Foir'Fouille stake to manager and funds - report

Credit Mutuel Equity, Nord Capital Investissement and Societe Generale Capital Partenaires reinvested in the company, while Altur Investissement, which invested EUR 3m in 2014, exited the group. The report added that two new investors came in, namely SLP Selection and Sofilaro.

The report cited Amaury Leleu, principal at Credit Mutuel Equity, as confirming the news. According to the report, the deal values the target at between EUR 150m and EUR 200m.

News portal Capital Finance reported that Ayache and Opleo Avocats served as legal advisers for the company. Lamartine Conseil provided legal counsel to Credit Mutuel Equity, while Qualium was accompanied by EY.

In September 2010, Qualium acquired a 60% stake in Foir'Fouille, while CM-CIC and Nord Capital jointly bought a 20% shareholding. Crédit Agricole Nord de France and CIC Nord Ouest co-arranged debt facilities that made up 50% of the deal value, according to Unquote Data.

Qualium sold its majority stake in La Foir'Fouille to the company's minority backers in 2014, but reinvested for a minority stake as part of the transaction. CM-CIC Capital Finance, Nord Capital Investissement, Turenne Investissement and Societe Generale Capital Partenaires acquired Qualium's majority stake alongside the company's management. The deal allowed Foir'Fouille's management to up its stake in the business.

Founded in 1975 and headquartered in Castelnau-le-Lez, La Foir'Fouille is a discount retailer of DIY and leisure products, decorations and homeware. La Foir'Fouille operates some 240 stores with annual sales of EUR 620m, according to Qualium's website.

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• Topics
• Exits
• Consumer
• France
• Expansion
• Qualium Investissement
• Secondary purchase