IK Investment to sell Europe Snacks to Apax Partners

European private equity firm IK Investment Partners is set to sell its Europe Snacks business to Apax Partners for an undisclosed amount.

Headquartered in Vendée, France, Europe Snacks manufactures savoury snacks, exclusively under the brands of its retailing clients.

With production capacity of 25,000t, the company has a line-up of more than 200 products, and reported a turnover of €77m in 2012.

Subject to the receipt of approval from competition authorities, the transaction is expected to close before the end of the year.

The deal allows the snack maker to continue its expansion across France and Europe, while maintaining a sustained pace of product innovation and industrial investment.

Apax Partners partner Bruno Candelier said, "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."

IK Investment Partners partner Rémi Buttiaux said, "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%."

Europe Snacks CEO Christophe Fenart said, "We will continue our high growth strategy whilst ensuring the sustainability of our relations with all our partners."

In 2010, IK Investment acquired a majority stake in Snacks International alongside its owners for an undisclosed amount.

Apax Partners is a French private equity firm that provides long-term equity financing to build and strengthen world-class companies.

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Image: The deal allows Europe Snacks to continue its expansion across France and Europe. Photo courtesy of SOMMAI at FreeDigitalPhotos.net.