French sauce maker Benedicta has been sold to investment fund Axa Private Equity by its present owners Barclays Private Equity and ABN AMRO Capital Finance for an estimated sum of around €60m (US$71.3m).
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The takeover is being made through a leverage buy-out via APE’s AXA LBO Fund III in association with Benedicta’s management team which is being retained.
Benedicta is eyeing a 2005 turnover of €100m.
Following its purchase from the Unilever group five years ago, the company now claims top spot for specialty and cold sauces on the French market and second place for mayonnaise sauces.
Benedicta recently signed a distribution agreement with Italian olive oil manufacturer, Carapelli, for its products in France.
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By GlobalData
