PAI is in acquisition talks with Labeyrie

PAI is in acquisition talks with Labeyrie

Private-equity firm PAI Partners is in exclusive talks to acquire a 50% stake in the holding company of French food firm Labeyrie Fine Foods.

Labeyrie is majority-owned by Basque food co-operative Lur Berri, which has a 61% stake. Another private-equity firm, LBO France, has a 33% shareholding. The
remainder of the capital is held by Labeyrie's management.

"Lur Berri is looking to develop Labeyrie and in PAI has found a potential partner with rich experience in the food industry, which has included a shareholding in Yoplait," a spokesperson for PAI told just-food.

The spokesperson said talks between PAI and Labeyrie's shareholders had begun earlier this week but could not confirm reports the proposed deal valued the company at EUR500m.

Labeyrie posted a 2013 turnover of EUR757m. It has 15 production plants, principally in France and the UK, employing almost 4,000 staff.