21 Invest France et al. inject €8m in DGF

21 Invest France owns a majority stake in the business. The GP backed the secondary LBO of DGF in 2014, while Amundi Private Equity Fund and NCI joined as minority shareholders in 2015, when the company was acquiring Soframa. 

The fresh capital will help DGF to pursue its external growth ambitions. Its new headquarters will be built in Chanteloup-les-Vignes, in the Paris region, along with a logistics platform to service all 23 distribution centres, according to the French publication Capital Finance.

In 2016, while DGF was completing its seventh bolt-on, it also secured a refinancing with Permira Debt Managers. The new package consisted of a €62m unitranche debt, including an undrawn capex line of €30m. The latter has not been fully drawn and will help to complete new build-ups, Unquote understands. 

In the past five years, the business has bolted on nine companies.

Company
Founded in 1986 and based in Chanteloup-les-Vignes, DGF is a distribution company for fresh, dried and frozen raw materials and ingredients.

It offers its products and ingredients to around 10,000 bakery, pastry and restaurant professionals. DGF generates €350m in revenues operating 23 centres located in France and exports its products to around 80 countries.

The company is expecting to post a €6-7m EBITDA in 2019 and up to €10m in the next couple of years, a source familiar with the situation told Unquote. 

People
DGF – Stéphane Corthier (president).

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• Topics
• Expansion
• France
• Consumer
• France
• Amundi Private Equity
• NCI Gestion