Daco France has a new investor, with the healthy-snacks maker’s majority shareholders looking to accelerate its growth.
The company, which markets fruit-and-nut snacks and candied fruits among its products, has attracted backing from Paris-based investment firm UI Gestion.
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Financial terms were not disclosed but UI Gestion replaces French private-equity firm Bee Up Capital as Daco France’s minority investor. Brothers Michel and Alain Abitbol, sons of Daco France’s founder, remain the company’s majority owners.
Daco France, set up in 1974, employs almost 150 staff at three production plants.
In a statement, UI Gestion said Daco France was looking at growth opportunities in France and in international markets, including “strengthening” its range of organic products and its presence in new sales channels.
In 2019, Daco France generated revenue of almost EUR100m (US$111.4m).
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By GlobalDataIn 2018, Daco France acquired a majority stake in fledgling French business Gula, an online subscription business selling dried fruit and nuts.
