Buyout to fuel growth of French ingredient company
French meat ingredient company, Savena, plans to double its size over the next five years after being bought by European private equity company, IK Investment Partners (IK) for an undisclosed sum.
Savena was founded in 1988 and produces ingredients for the food industry. Its 4,000 clients include ready-made meal and sauce producers, meat processors and catering firms in France, Belgium, Germany, Scandinavia, Eastern Europe and Italy, as well as a growing operation in Asian and Russian.
Dan Soudry, Partner and Head of IK’s French office said: “Savena has high growth potential due to innovation, new product introduction and extension of its commercial presence. The strategy of organic growth, in France and abroad, as well as the completion of external growth operations should allow Savena to double its size over the next five years.
"We are very excited to be working alongside a management team with such a successful growth track record, and look forward to sharing our experience in the food-processing industry in Europe with them”
Eric Terré, CEO of Savena said “With its credentials in the food industry and experience of building up businesses internationally, IK is the perfect partner for us. Savena has a track record of successful expansion and together we can accelerate our pan-European development plan”
IK has previously invested in Swedish meat processor Lithells and upmarket French company Labeyrie, which makes gastronomic products and ready meals.
In the current financial year, Savena’s revenue is expected to reach c.€90m.