Pierre Martinet plans to open up around 10% of its capital base to investors as the family-owned French group seeks to raise funds to expand its export business, most notably in Spain.
The company is in discussions with potential investors, a spokesperson told just-food.
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Pierre Martinet has a capital value of EUR21m (US$25.8m) and is 90%-owned by founder Pierre Martinet. The company’s turnover rose 12.6% to EUR159m in 2017, while volumes climbed 13.8%.
Exports account for around 5% of its turnover and the objective is to double that over the next five years.
“We have excellent positions in Spain where the prepared salad dishes segment has a lot of potential,” Mr Martinet said at a recent press conference.
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The spokesperson declined to comment on whether funds raised would go towards the company setting up its own production in Spain, a move it has been considering.
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By GlobalDataPierre Martinet is also looking to strengthen its presence in Belgium, Switzerland, Hong Kong and Japan.
French ready meals firm La Belle Henriette owns the majority of the remaining 10% stake with an unidentified long-standing private investor holding a very small part of the shareholding.
Pierre Martinet has not commented on whether these investors are selling up or if the Martinet family will be reducing its stake.
