Halal food business Isla Délice is poised for a change in ownership as UK-based private-equity group Perwyn plans to exit the French company.
Perwyn said it plans to sell its holding to fellow investor A&M Capital Europe in a transaction that is expected to close “later” this year. Financial terms were not disclosed.
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Perwyn acquired a majority stake in Isla Délice in 2018 from the company’s founders and French private-equity firm IDI.
Established in 1990, Isla Délice produces a range of fresh and frozen halal meat products mainly under its signature namesake brand.
Heinz Holsten and John Gallagher, who are both part of the Perwyn investment team and board members of Isla Délice, said in a statement: “During our ownership, we have been particularly impressed by the hard work and dedication of the Isla Délice management team led by Eric Fauchon, as well as the broader organisation.
“We are proud to have transformed Isla Délice from an owner-managed French champion into a halal specialist with a presence across several European markets, led by a professional management team.”
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By GlobalDataDuring Perwyn’s ownership, Isla Délice struck three acquisitions in the UK, Belgium, and Germany, and also expanded sales into the Netherlands, Spain and Italy, the investor said.
In January, Isla Délice entered Germany through the acquisition of Gürkan, a specialist manufacturer of Pastirma, a cured, air-dried halal beef dish.
In the UK, Isla Délice acquired halal meat brand Takul from Stonehouse Foods last year. And in 2019, the business snapped up Belgian counterpart Hoca Meat Products.
Commenting on the change of ownership, Isla Délice CEO Fauchon said: “In recent years, Perwyn’s support has been instrumental to our growth, with over €40m ($46.5m) invested in our production sites and new capacities developed to better meet the expectations of our consumers.
“With the support of A&M Capital Europe, we will continue our development in France and across Europe, expanding our product ranges and distribution channels.”
