Hivest buys St Mamet in SBO

French vegetables cooperative D'Aucy has agreed to become an industrial partner to St Mamet, but will not take a material stake in the business. 

Conserve Italia, the owner of St Mamet before the Florac-backed buyout in 2015, has sold a 5% stake in the company, according to French publication Le Figaro. Florac and Hivest are still discussing a €7m debt owed by the target to Conserve Italia, according to the publication. 

French GP Hivest typically invests €5-25m in French companies with revenues between €20-500m.

Previous funding 
Three years ago, Florac completed the carve-out of St Mamet, previously owned by cooperative Conserve Italia. The transaction was a management buy-in, with Stéphane Lehoux coming in to manage the business. At the time, St Mamet generated revenues of €100m and employed 400 people.

Company
Founded in 1953 and based in Nimes, canned fruits and compotes specialist St Mamet employs 1,200 workers in factories and orchards in southern France. The business currently generates a turnover of around €100m, Unquote understands. 

People
St Mamet – Stéphane Lehoux (president).
Hinvest – Cédric Lépée (managing partner).  

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