Isla Delice generates annual sales of EUR70m

Isla Delice generates annual sales of EUR70m

Ambre Délice, the owner of French halal brand Isla Délice, has been sold to another private-equity firm, the UK-based Perwyn.

For an undisclosed sum, Perwyn, which has food interests including a stake in UK fruit and veg supplier Freshcut Foods, has bought Ambre Délice from its founders and fellow private-equity firm IDI.

The founders of Ambre Délice, Jean-Daniel and Frederique Hertzog, said in a statement they were "convinced" Perwyn was "the ideal partner to support the development of Isla Délice and maintain the leadership of the brand in France and Europe".

IDI, which invested in Ambre Délice in 2015, describes Isla Délice as "the pioneering brand of the halal market" and the "undisputed leader in France with the largest market share".

It said Isla Délice produces and markets more than 250 lines in cold cuts, frozen and meal solutions, mainly in France but also internationally. IDI added since 2015 sales grew by more than 40% to more than EUR70m (US$81.7m).

"Our investment thesis was simple: investing in the leader of a growing market but Isla Délice has, in addition, managed to outperform its business plan through product innovation product and marketing quality that led to further market share gains and strong growth in results," Marco de Alfaro, a partner and member of the executive committee at IDI, said.

In a joint statement, Andrew Wynn and Heinz Holsten, partners at Perwyn, described Isla Délice "as a jewel with fantastic future potential" and added they were "delighted to have the opportunity to partner with Jean-Daniel and Frederique in a company as dynamic as Isla Délice to invest in the business through its next chapter of growth and continued product leadership".