The funds managed by Apax Partners in France have signed a definitive agreement with IK Investment Partners to acquire Europe Snacks. The transaction, which is subject to the approval of anti-trust authorities, is expected to close before the end of the year.
For over 20 years, Europe Snacks has specialized in the production of private label savory snacks. With turnover of €77 million in 2012, production of 25,000 tons and a product line of more than 200 SKUs. The Vendée-based company is the market leader in France.
So far, no financial details of the transaction has been disclosed.
Europe Snacks' turnover grew by 50% over the last three years. During that time, the company carried out a large investment program, developed its existing product range and launched new product lines. In particular, it built a new production site and increased its workforce by 20%.
Apax's aim is to support the company in its on-going growth in Europe by providing it with the human and financial resources necessary to continue its innovation and its industrial investments. With the support of its new shareholder, Europe Snacks will continue its expansion in France and in Europe, maintaining a sustained pace of product innovation and industrial investment.
© 2013 - European Supermarket Magazine by Enda Dowling
