Ardian-backed Diana acquires Confoco International
Diana Ingrédients, backed by Ardian (formerly Axa Private Equity), has acquired sales and marketing services provider Confoco International.
Diana, a producer of natural ingredients for foods, is aiming to strengthen its footprint in the baby food sector.
In June this year, Diana acquired Confoco SA, the Ecuadorian manufacturer of flakes, powders and purees from tropical fruit and vegetables.
The buyout of Confoco International will now enable Diana to integrate the distribution and development of the Confoco products in Europe and Asia.
Ardian (then Axa PE) acquired Diana from fellow private equity house Cognetas in 2007, a transaction that valued Diana at around €710m or an estimated 12x EBITDA. A senior debt package of €415m was arranged for this transaction.
Company
Confoco International is a sales, marketing and distribution company, which reported a turnover of £9.7m in 2012.
Confoco mainly operates in the baby food, breakfast cereals, cereal bars and bakery sectors.
The firm was founded in 1995 and is based in Surrey.
People
Yves Boisdron is president of the board at Diana.
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