Apax’s Europe Snacks adds on Sibell

According to unquote" sources, the bolt-on was supported by Apax France.

Following the takeover, the Europe Snacks and Sibell brands will continue to operate independently. Put together, the businesses will employ a combined 510 professionals in five production plants in the Vendée and Bouches-du-Rhône area.

The group will be headed by Europe Snacks CEO Christophe Fenart. Meanwhile, Charles Benkemoun, who holds the same position in Sibell, will stay in as shareholder.

Under their leadership, the companies will look to benefit from existing synergies in their distribution and production network, current product offer and brands.

Previous funding
According to unquote" data, Europe Snacks has registered five private-equity-backed buyouts since inception. The first took place in January 1997, when the snacks producer was backed by 3i and Institut de Participations de l'Ouest (IPO).

In March 2000, both firms exited their stakes to TCR Capital and Lion Expansion, which in turn divested them to CIC-LBO Partenaires, IPO and Unigrains six years later.

In October 2010, IK became a majority shareholder in Europe Snacks in a deal valuing the business in the €100-120m region. After a three-year tenure, the snack producer was sold by the GP at a 2x money multiple to Apax France.

Company
Founded in 1987, Sibell produces crisps that it then sells under its own brand or via external distributors. With a production site located in its Aubagne headquarters, the SME employs 130 professionals and most recently posted €30m in turnover.

Europe Snacks was created in 1991 in the Vendée department. The business manufactures salted snacks for more than 26 brands. Production takes place across four facilities that employ a combined 380-strong workforce. The company most recently generated €100m in turnover.

People
Christophe Fenart is CEO at Europe Snacks, while Charles Benkemoun holds the same position at Sibell, which he also founded.

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• Topics
• France
• Expansion
• Consumer
• France
• Apax France SA
• Acquisition finance