Private equity group Cognetas has sold Diana Ingrédients to AXA Private Equity for a total of EUR710m (US$961.5m).


Diana Ingrédients produces natural extracts for the beverage, baby food, savoury and nutraceutical markets, as well as sauces used in the meat and catering industries.


Diana Ingrédients has witnessed fast-paced expansion over the past three years, expanding its core ingredients business internationally. Headquartered in France, the company now operates in several international markets including Spain, the UK and the US.


Olivier Suquet, CEO of Diana Ingredients, said: “Diana Ingrédients has achieved an impressive development over the past three years thanks to an improved product range and consistent international expansion.” The group’s 2006 revenue totalled around EUR253m.


The sale, which is subject to regulatory approval, is expected to be completed in the third quarter of this fiscal year.

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