Idia backs LGI Wines in SBO

Transaction sees historical backers Initiative & Finance and Agribev Holding divest LGI.

The transaction is an opportunity for the management to rearrange its ownership of LGI: new managers have become stakeholders, while others sold their stakes. The management team said in a statement that it has embraced the concept of rotating the managers' ownership of the firm with MBOs.  

The transaction was supported by senior debt provided by a syndicate led by LCL and involving Societe Generale, BNP Paribas and Neuflize OBC.  

Previous funding
Agribev is a historical backer of the business, according to a statement. LGI was first backed by Initiative & Finance in 2011, when the GP bought a majority stake and management retained the remainder. Subsequently, an SBO in 2015 saw management buy back its majority stake, Idia Capital join the capital structure and Initiative & Finance remain an investor in the business.

Company
Founded in 1999 and based in Carcassonne, LGI is an exporter of wines from Languedoc and Gascony. The group offers wines adapted to the tastes of the countries of destination.

Generating a turnover of around €60m, the company currently has 400 customers in 30 countries (predominantly Europe, and more specifically Germany, the Netherlands and Belgium), but also in China and the US (20% of turnover between the two), according to a statement.

People
Idia Capital Investissement – Cédric Fontaine (investment director); Paul Halard (associate).
LGI Wines – Xavier Roger (managing director).
Initiative & Finance – Jean-Bernard Meurisse (president); François Golfier (chargé d'affaires).

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