Private-equity firm Equistone has become a shareholder in French desserts manufacturer Charles & Alice.

The company, which also produces prepared vegetable products, has been owned by a second private-equity firm, CM-CIC Capital Finance, and management since 2007.

The size and value of Equistone’s stake has not been disclosed but the capital raised from the deal will allow Charles & Alice “to accelerate its development in France and on the international front”, a spokesperson for the desserts firm said. The size of the remaining stakes held by CM-CIC and management was not revealed.

With two production sites in south-east France, Charles & Alice posted a 2012 turnover of EUR120m (US$158.8m).

Half of this amount was generated by supermarket sales and the other half from the catering sector.