Portfolio management company AXA Private Equity has started exclusive talks to acquire French food additives specialist Diana Ingrédients.

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Diana Ingrédients is currently owned by investment fund Cognetas, who acquired the company from French bank BNP Paribas in April 2004 for EUR270m. A deal with AXA could be worth around EUR700m (US$945.7m). 


Following the sale, French media reports suggest Cognetas will retain a majority stake. The investment fund declined to comment when contacted by just-food today (29 May). 


Diana Ingrédients’ culinary ingredients activities focus on tailor-made ready-to-use sauces and flavoured butters along side pork bards and high functional meat proteins.


The Brittany-based firm also specialises in meat and seafood natural ingredients and pet food ingredients.

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Diana Ingrédients has a total workforce of around 1,000 staff. The group posted turnover of EUR280m in 2006.

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