parquest capital

fr
materne

the company

  • Mont Blanc is the leading French producer of ambient dairy desserts (80% market share), marketed under the "Mont Blanc" trophy brand. Additionally, the company produces and markets the brand of concentrated milk Gloria.
  • Materne is the French market leader of ambient apple sauce and forerunner of the fast growing fruit snacking "pouches" format marketed under the popular Pom'Potes brand.

THE PROJECT

Development

In December 2006, Parquest Capital formed a consortium with Activa (Mont Blanc owner) for the acquisition of Materne and its merger with Mont Blanc. The new group achieved total sales of about €200M and Mont Blanc-Materne became a leading ambient dessert producer in France.

The group could notably capitalise on a leading position on the very dynamic market for healthy children snacks thanks to "Pom'Potes" apple sauce pouches and Mon4heures.

With the support of Parquest Capital and Activa Capital, the management team aimed at leveraging the strength of its brands within the dessert market in order to continue its internal development, extend its product range and possibly expand through external growth opportunities.

MAIN ACHIEVEMENTS

During the 4 years of the partnership, the group went through a strong organic growth phase with the implementation of a comprehensive and efficient marketing strategy, a packaging innovation program, a significant product range development and the optimisation and rationalisation of industrial processes. Besides, the group launched an ambitious international expansion project of the brand Materne, particularily in North America.

End 2010, at the end of the project, the management team wished to pursue the group's international expansion and thus organised a new LBO sponsored by LBO France.

Investment date December 2006
Divestment date December 2010
Sector Desserts et compotes
Deal type MBO
Headquarters Paris
Turnover (€M) 190
Headcount 600
CEO Michel Larroche