Advention acts as strategic advisor on deal involving Qualium Investissement
Qualium Investissement SAS, the France-based private equity firm, has agreed to acquire Biscuits Poult SAS, the France-based producer and distributor of biscuits and cookies from LBO France, the France-based private equity firm, for a total consideration of EUR 180m approximately. European Capital Limited, a UK-based investment company for pan-European equity, mezzanine and senior debt investments arranged a EUR 26m mezzanine financing supporting the acquisition by funds advised by Qualium.
The acquisition enables Poult to continue offering new distributors biscuits in a very competitive market. Post acquisition, Poult will continue its international expansion by operating with all its plants in Toulouse, France. The objective of Poult in the next two years would be to develop antistress biscuits. The Poult group will install a new production line at its plant in Montauban (400 employees) by investing EUR 8m to build a European product and also augment the production of breakfast biscuits factory in Sully-sur-Loire. The transaction is expected to close by July.
Earlier in July 2006, LBO France bought Biscuits Poult from Artal Group SA for approximately EUR 152m supported by European Capital's investment in debt facilities of mezzanine, second lien and senior debt. Later in October 2013, Biscuits Poult sold its Polish division, Dr Gerard Sp. z o.o.
UPDATE 01 July 2014: The acquisition of Biscuits Poult SAS by Qualium Investissement SAS has been completed
LBO France press release, 30 June 2014
European Capital Limited press release, 30 June 2014
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