FRANCE: New owners at ingredients firm Saveur
France's leading specialist in the production of ingredients for ready-made meals, Saveur, has announced a change of ownership.
Three investment funds, which together held 85% of Saveur, have withdrawn from the company and are succeeded by Banexi Capital Partenaires (BNP Paribas) and Céréa Gestion, who have taken an 82% stake. The remaining 18% is held by Saveur's management and staff.
"We are looking to accelerate the growth of the company through acquisitions and a change in our shareholders will facilitate this objective," Saveur's founder and CEO, Eric Terré, told just-food.
Based near Rennes, Saveur has an annual production of ingredients and flavours of over 9,000 tonnes. It has production sites in France and Belgium and sales offices in the UK, Germany and Russia. Turnover is expected to reach EUR50m (US$70.6m) this year, up 22% on 2006.
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