The deal sees Labeyrie Fine Foods enter French snacks market

The deal sees Labeyrie Fine Foods enter French snacks market

Labeyrie Fine Foods, the French group, has snapped up a majority stake in local snack maker Salés Sucrés.

The deal sees the seafood-to-desserts group buy a 78% stake in the business. Labeyrie Fine Foods said it had attained what it called "the knowledge of a major player in the snacking market".

The transaction gives Labeyrie Fine Foods an entry into the snack category and the company has launched a snack range under its L'Atelier Blini brand, which will be sold in self-service aisles in stores.

Pierre-Yves Ballif, the CEO of Blini's, will be responsible for the Salés Sucrés business within Labeyrie Fine Foods.

Thierry Lescanne, the founder of Salés Sucrés and Franck Pasquet head of Salés Sucrés unit Brindélices, will be the other shareholders in the business.

Last year, Labeyrie Fine Foods announced plans to grow sales by 50% by 2020. The company, which counts private-equity firm PAI Partners and Basque food co-operative Lur Berri as major shareholders, has confirmed a target of hitting turnover of over EUR1.2bn (US$1.5bn) by the start of the next decade.