Unigrains leads €4m round for Sodevat

The €4m funding round saw the two investors inject equal amounts into the business, securing a minority stake, according to a source familiar with the matter.

The company aims to use the fresh capital to boost its downstream and distribution activities, with a focus on cognac distribution and gardening shops. It will also look to further develop its popcorn business in Europe, as well as its cognac brands in Asia.

Company
Sodevat is composed of four businesses: wine and spirit bottling and marketing business Unicognac, cognac and brandy brand AE Dor, gardening shops chain Jardineries Monplaisir and popcorn manufacturer Sphére Production. The company posted a €65m turnover in 2016.

The business is part of the French cooperative group Océalia, which was established in 2015 and is based in Cognac. The group generated €634m in revenues in 2016 and has 910 employees.

People
Unigrains – Bruno Julla (investment director); Anabelle Gerbal (investment officer).
Idia Capital Investissement – Matthieu Adoir (senior investment manager).
Sodevat – Philippe Delusset (president).

Advisers
Equity – Lamartine Conseil (legal).

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