FRANCE: Dough maker APM acquired by two investment funds
Dough maker Alsaciennes de Pâtes Ménagères (APM) has been acquired by two investment funds from its founders, the Roposte family, who set up the company in 1994.
Capzanine and Céréa Capital have taken an 80% stake with the remainder of its capital accounted for by APM's managers, including Guillaume Réveilhac, who will head the company.
Specialising in tart, pizza, cake and cookie doughs for retailers' own labels, APM has two production plants in Eastern France and has an annual turnover of EUR46m (US$59.2m). It employs 175 staff.
Réveilhac was formerly with Sara Lee International Food Service where he was responsible for Southern Europe. He has now unveiled a project to invest EUR14m in increasing annual production capacity from 25,000 tonnes to 45,000 tonnes. There are also plans to develop exports which currently represent 18% of sales.
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