Europe Snacks to combine with French peer Sibell
Europe Snacks to be majority shareholder in business
Europe Snacks and Sibell, two France-based crisp makers, have announced plans to combine to form a branded and private-label supplier.
The companies will have five plants and generate an annual turnover of EUR130m (US$147.7m).
Europe Snacks, owned by private-equity firm Apax, will be the majority shareholder in the enlarged business. It has annual sales of around EUR100m from its four plants. It will focus primarily on its business to supply supermarkets with own-label lines. Sibell will look to develop its regional brand in the retail and foodservice channels.
Christophe Fenart, the Europe Snacks president who will head up the combined business, said: "We will expand Europe Snacks' range, launch new products and open markets for Sibell. Our goals are three-fold: to enable our customers to compete advantageously with major national brands, offering a fuller range while maintaining impeccable quality and continuing a strong growth dynamic."
Charles Benkemoun, the founding president of Sibell, will remain a shareholder in the business. The 75-year-old said he was "happy" to "pass the torch" on to a "dynamic" business.
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Have food promotions reached tipping point?
- How Tyson's new CEO plans to grow the meat group
- General Mills jobs to go in business revamp
- Japan's Nagatanien buys Chaucer Food Group
- B&G acquires pasta sauce group Victoria Fine Foods
- Verlinvest, China Resources invest in Oatly
- Tyson sets up US$150m investment fund