IK Investment Partners to sell Europe Snacks

IK Investment Partners to sell Europe Snacks, a leading manufacturer of savoury snacks under private label brands, to Apax Partners

The funds managed by Apax Partners have signed a definitive agreement with IK Investment Partners (IK2007 fund) to acquire Europe Snacks. The transaction, which is subject to the approval of competition authorities, is expected to close before the end of the year.

For over 20 years, Europe Snacks has specialised in the production of savoury snacks, exclusively under the brands of its retailing clients. With turnover of €77 million in 2012, production of 25,000 tonnes and a line-up of more than 200 products, this Vendée-based company is the market leader in France. 

With the support of its new shareholder, Europe Snacks will continue its expansion across France and Europe, maintaining a sustained pace of product innovation and industrial investment.

Bruno Candelier, Partner at Apax Partners, said: “We are very pleased to acquire Europe Snacks alongside Christophe Fenart, its CEO, and his team. Our aim is to support Europe Snacks 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”

Rémi Buttiaux, Partner at IK Investment Partners, said: “Turnover grew by 50% in three years under IK’s ownership. With IK’s support, the company carried out a large investment programme, developed its existing product range and launched new product lines. In particular, it built a new production site and increased its workforce by 20%.”

Christophe Fenart, CEO of the Europe Snacks Group, added: “We thank IK Investment Partners, which has been a committed and inspiring partner in recent years. Apax Partners’ capital investment in our company is excellent news for our employees, customers and suppliers. We will continue our high growth strategy whilst ensuring the sustainability of our relations with all our partners.”

Contacts 
IK Investment Partners 
CTCom 
Sibylle Descamps 
M: +33 6 82 097 007 
Email: sibylle.descamps@ct-com.com 
Charlotte Laveson – Director Communications 
Tel.: +44 20 7304 7136 
Email: charlotte.laveson@ikinvest.com 

Apax Partners 
Coralie Cornet – Communications Director 
Tel.: +33 (0)1 53 65 01 35 
Email: coralie.cornet@apax.fr