French private-equity firm Eurazeo, the owner of European confectionery brands including Krema and Carambar, has set up a new division to invest in US and European consumer brands with global growth potential, which will be led by Jill Granoff, the former CEO of Kellwood Holding.
Jill Granoff, a former apparel and luxury goods executive, has been named Eurazeo Brands CEO and has been tasked with leading the unit’s investment.
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“With enormous market potential in the consumer sector, we are thrilled to dedicate senior sector expertise and leverage our global network to help companies reach the next level and thrive,” Virginie Morgon, the deputy CEO of Eurazeo, said.
The new brands division will target what Eurazeo called “high-growth companies with a differentiated concept across a wide range of verticals including beauty, apparel, accessories, home, jewellery, leisure, health, fitness and food”. It added: “Leading entrepreneurs, advisors and business partners across these verticals will join the initiative to provide sector-specific knowledge.”
The brands unit will be headquartered in New York. Eurazeo has allocated between US$600m and $800m for investments in the next three to five years.
Eurazeo struck a deal in March 2016 to buy a clutch of confectionery brands from Mondelez International. As well as Krema and Carambar, the assets included brands such as Poulain, La Pie Qui Chante and Terry’s.
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By GlobalDataLast month, Eurazeo announced the completion of the acquisition of the brands and the creation of CPK Group, a new holding company that would run the business. CPK has five production sites in France, generating annual revenue of EUR250m (US$280m) from the sale of branded products.
