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M&A

CHARLES & ALICE

Acquired by

EQUISTONE

FRANCE Food Processing EV [1m EUR - 100m EUR] 09/2013

Target

CHARLES & ALICE

Acquirer

EQUISTONE

Context

Equistone Partners Europe has acquired a majority stake in Charles & Alice from historical investor CM-CIC Capital Finance (which retained a minority stake). The transaction allowed the management team, led by Thierry Goubault, to significantly increase its equity participation from 15% to 26%. The deal was supported by a diversified financing package, including senior debt, mezzanine debt, and a dedicated CAPEX line to fund future industrial investments and international expansion. This LBO marks the next phase of growth for the fruit dessert specialist, aiming to transition from a French champion to a global player in the healthy snacking industry.

Target

A leading French manufacturer of fruit-based desserts and compotes, with a strong focus on "no added sugar" products and organic offerings. The group operates in both retail and out-of-home catering (RHF) and has expanded into plant-based desserts (coconut milk-based) and the US market.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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EBIT
2013
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2012
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Other operations with CHARLES & ALICE

DateAcquirerTargetCountrySectorTarget Description
04/2021CREDIT MUTUEL EQUITYCHARLES & ALICEFRANCE
Food Processing

A leading French manufacturer of fruit-based desserts and compotes, with a strong focus on "no added sugar" products and organic offerings. The group operates in both retail and out-of-home catering (RHF) and has expanded into plant-based desserts (coconut milk-based) and the US market.