Valade (France) - Dec 2007

IDIA Agricapital, a fund fully-invested by Crédit Agricole, has led the buyout of jams and compotes maker Valade. The private equity firm, which on its own owns 30% of the business, teamed up with Uni Expansion Ouest and BNP Paribas Développement. Vendor Fruitterroir retains 30% in Valade. The transaction also includes the add-on acquisition of jam maker Hero RHF, a business with a turnover of approximately €10m.

Financing

Crédit Agricole d’Ile-et-Vilaine, Société Générale, BNP Paribas and Banque Populaire underwrote a two-tranche senior debt package, representing 60% of the deal’s value.

Company

Valade is a manufacturer of jams and compotes, mainly for restaurants, hotels and hospitals, but also for general retail. The group aims to become the country’s largest player in its sector by making acquisitions to increase its market share. Opportunities in neighbouring countries will also be considered. Valade recorded combined sales of almost €35m in 2006, and employs 150 people.

People

Olivier De Pelet worked on the deal for IDIA Agricapital; Guy Tartière represented Uni Expansion Ouest, and Patrick Pein for BNP Paribas Développement. Janick Belin is Valade’s CEO.

Advisers

Equity - ACA, François Missé (Financial Due Diligence)Equity - Paul Hastings, Gilles Roux, Olivier Deren (Legal)Management - Ghenassia & Associés, Sophie Ghenassia (Legal)Vendor - Proskauer Rose, Guillaume Kellner, Quentin Fournier (Legal)

Sourced from: France unquote" 87 (Jan 2008)

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Buyouts
• Consumer
• France