French private equity firm Apax Partners has inked a deal to acquire Europe Snacks business from IK Investment Partners for an undisclosed amount.
Europe Snacks is a manufacturer of savory snacks the brands of its retailing clients, and has production capacity of 25,000 tons.
The company has a portfolio of over 200 products, and reported a turnover of €77m in 2012.
With the support of its new owner, Europe Snacks will be able to further strengthen its presence across France and Europe as well as maintain a sustained pace of product innovation and industrial investment.
The transaction is subject to the regulatory approval and is expected to be completed by the end of this year.
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.
With more than 40 years' experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies.
IK Investment Partners is focused on investments in three regions; the Nordics, DACH and France Benelux. Its current portfolio comprises 24 companies.
Image: The transaction is expected to be completed by the end of this year. Photo courtesy of Keerati at FreeDigitalPhotos.net.
