SOPANO acquired by FRENCH FOOD CAPITAL
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 in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).
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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.
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REFERENCES
Valuation range: EV 20M - 50M EUR
Revenue range: 25M - 50M EUR
EBITDA range: 0M - 5M EUR
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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