Europe Snacks to be majority shareholder in business

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.