Industri Kapital has today finalised the sale of its controlling stake in Financière de Kiel, holding company of the Labeyrie Group (“Labeyrie”), to SÍF hf. for an enterprise value of €332 million. SÍF, the European food producer, is listed on the Reykjavik stock exchange.
The transaction, one of the largest consumer products acquisitions in Icelandic history, creates a new and powerful group of food production companies with a combined turnover of approximately €1 billion and a workforce of 3,900 people in 11 countries.
French based Labeyrie is a European market leader in seafood, blini and spreadables as well as regional products with strategic positions in France, Spain, Belgium, Luxembourg, Switzerland and the United Kingdom. The company has gross consolidated sales of €311 million and 2,400 employees.
Labeyrie was acquired by the Industri Kapital 2000 Fund in March 2002 through a public-to-private on the Paris stock exchange. Under Industri Kapital’s ownership, the group has significantly increased its sales both organically and via the acquisition of Blini (2003) and Farne (UK, 2004).
For further information, please contact:
Christopher Masek, Partner, Industri Kapital: +44 778 756 87 40
About Industri Kapital
Industri Kapital is a European private equity firm with Nordic roots, managing close to €4 billion in fund commitments from Nordic, European and international institutional investors. Since 1989, Industri Kapital has acquired 49 European companies. The current portfolio encompasses 27 companies with a total turnover close to €10 billion.
In France, IK's investments include Laho Equipement (2000), the number two construction equipment rental group in France, Groupe Fives-Lille (2001), a leading international engineering group, Labeyrie (2002) and Ceva Sante Animale (2003), a French company providing animal health products and veterinary pharmaceuticals.