OFI-backed Gault & Frémont acquires BioFoodPack

The funds were drawn from the company's own balance sheet. This external growth operation will allow Gault & Frémont to strengthen its offering to large food product manufacturers and distributors.

BioFoodPack designs, manufactures and distributes genuine vegetable parchment food containers for "ready-to-eat" dishes (mainly for freezing and baking applications), typically as an alternative for aluminium containers.

Founded in 1850 with its head office in Saint-Pierre des Corps (Indre-et-Loire), Gault & Frémont is a French manufacturer of paper and cardboard packaging, targeting the pastry and bakery markets. The group has 180 employees and posted a €35.3m turnover for 2009.

OFI Private Equity purchased Gault & Frémont from LBO France in 2008 for €35m. The deal saw LBO France exit its interest in the company, while OFI secured a 70% stake in the business; management retains the remainder of the shares.

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