Ergon acquires Haudecoeur

The firm is using its Ergon Capital Partners IV vehicle, which closed on €580m in March 2019. The fund makes buyout investments of €25-75m in equity capital in mid-market companies primarily in western Europe. This is the fund's second acquisition after the purchase of TMC Group in May 2019.

The management team has reinvested in the deal and will continue to lead the company. Unquote understands that Ergon has taken a majority stake in the company.

The company plans to use the capital to invest in development projects and grow the company in neighbouring markets such as Benelux, Spain and Italy. The company will also grow its product range and will fuel expansion both through organic growth and a buy-and-build strategy.

Debt will be provided by a pool of French banks.

Company
Haudecoeur is a Paris-based, family-owned importer, producer and distributor of food dedicated to customers of North African, Asian, sub-Saharan African and Caribbean origins. The company imports products including rice, pulses, dried fruits and spices. It has partnerships with brands such as Riz du Monde and Profruit.

Founded in 1932, the group has a production site located in La Courneuve near Paris and employs 100 people.

People
Ergon Capital Partners – Wolfgang de Limburg (managing partner).
Haudecoeur – Jean-Claude Haudecoeur (group CEO); Ann Haudecoeur (general manager); Laurent Dupuy (CEO).

Advisers
Equity – Raphael Financial Advisory (M&A); De Pardieu Brocas Maffei (legal); DC Advisory (debt advisory); Roland Berger (operational due diligence); 8Advisory (financial due diligence).
Company – Natixis Partners (M&A); Edge Avocats (legal).

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• Topics
• Buyouts
• France
• Consumer
• France
• Natixis
• DC Advisory Partners
• Roland Berger & Partners
• 8 Advisory