mynth
← DATABASE
09/2025

SOPANO acquired by FRENCH FOOD CAPITAL

FRANCE Chemicals & Materials / Packaging & Containers / Labels & Adhesives EV €20–50M

Context

The transaction involves the acquisition of Sopano by FrenchFood Capital, supported by a pool of regional investors including BNP Développement, Caisse d’Epargne Normandie, Unexo, and Banque Populaire Nord. This secondary LBO marks the exit of NCI after a four-year holding period characterized by the group's successful diversification into the food sector. The deal is financed through an equity ticket of EUR 20–30 million and a unitranche debt facility provided by BNP Paribas AM, representing a leverage of approximately 3.0x EBITDA. The strategic rationale is to leverage the acquirer’s deep network in the food industry to accelerate Sopano's growth, with the ambition of doubling its turnover in the coming years. This objective will be pursued through both organic expansion and a proactive "buy-and-build" strategy in France and neighboring countries.

SOPANO, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the Industry & Manufacturing sector (11.7x).

-> Deep-dive in Industry & Manufacturing market trends

Target

Sopano is a leading French specialist in the design and manufacture of high-performance technical and decorative labels. Headquartered in the Normandie region, the company operates a sophisticated industrial platform capable of producing a wide range of labeling solutions, including adhesive labels, shrink sleeves, and specialized packaging identification. Its business model is built on high-precision printing technologies (such as flexography, offset, and digital) combined with advanced material science to ensure label durability in demanding environments, ranging from the high-humidity conditions of the food & beverage sector to the chemical constraints of the industrial and cosmetic markets.

Ent. Value

€20–50M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€25–50M
€0–5M
[members only]
2023
€25–50M
€0–5M
[members only]

Similar deals in Chemicals & Materials

Similar deals in Chemicals & Materials

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
11/2025AKZO NOBELAXALTA COATING SYSTEMSUNITED STATESPaints & Coatings
10/2025GRIGEOHuchtemeier PapierGERMANYPaper & Cardboard
09/2025FLORACMAKAOFRANCEPaper & Cardboard
07/2025UNIGASKETASSOTECHITALYPlastics
07/2025AMBIENTAAGRONOVASPAINSpecialty Chemicals
07/2025NORCROSFIBO GROUPNORWAYWall & Ceiling Systems
07/2025STONEPEAKIFCOGERMANYPackaging & Containers
05/2025MOVENDO CAPITAL / DRAYCOTTVERESCENCEFRANCEGlass Packaging
04/2025BWGI (BW GESTÃO DE INVESTIMENTOS)VERALLIAFRANCEGlass Packaging
04/2025ASTORGSOLABIAFRANCESpecialty Chemicals

REFERENCES

Valuation range: EV €20–50M

Revenue range: €25–50M

EBITDA range: €0–5M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SOPANO by FRENCH FOOD CAPITAL are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: sopano

Acquirer: french food capital