Following the transaction the founding family will remain a majority shareholder of the company
Image: Adian acquires a minority stake in Nutripack Ecocup. Photo: courtesy of Gerd Altmann from Pixabay.
Ardian, a world leading private investment house, announces today the future acquisition of a minority stake in Nutripack Group, a leading packaging manufacturer for the food industry, from Crédit Mutuel Equity. Following the transaction the founding family will remain a majority shareholder of the company.
Founded in 1990 in the north of France by Pierre Berthe, Nutripack is a family owned business led by Philippe Berthe, CEO and son of Pierre Berthe. Over the years, the company has successfully positioned itself as a real European leading manufacturer of rigid packaging offering both traditional packaging under the Nutripack brand (for the food processing and the collective catering industries) and eco-friendly solutions under the Ecocup brand (reusable cups for events and beverage industries). The group employs c.680 people in seven European countries and in Canada, and owns eight production sites.
Under the leadership of Philippe Berthe, the management team has strongly positioned the group towards a sustainable approach in the industry. In 2017, the group launched a new activity of customized reusable cups, and became the European leader. As of today, this diversification to circular models is strongly growing and represents c. 25% of the group sales. Besides, Nutripack is also working on various alternative solutions and new materials, in order to ensure high quality, innovative and regulation compliant products. To this extent, Nutripack has developed a range of 100% biodegradable and compostable cellulose trays.
This operation remains notably subject to completion of the necessary regulatory and judicial authorizations.
Philippe Berthe, CEO of Nutripack Group, said: ”We are very happy with the achievements of the past four years carried out through Crédit Mutuel Equity’s support, which has ensured a smooth transition across a new generation within the family and allowed us to refocus the group’s strategy on its fast-growing food packaging and reusable cup manufacturing activities in Europe. We are also very pleased to be able to pursue our responsible and innovative business project with Ardian, who will support us in the acceleration of the development and deployment of our eco-friendly packaging offer (reusable, bio sourced, etc.). Thanks to the renewed support of our financing banks, we will also pursue our selective build-ups policy, which is at the heart of our strategy. ”
Alexis Lavaillote, Managing Director at Ardian Expansion, said: “We are looking forward to working with the company. Philippe Berthe has a visionary approach by adopting a greener approach and therefore transforming the company. We intend to work hand in hand with the management and the R&D team to support this global transformation and go further in the industrial optimization. Today the company is a pan-European leader in this niche market with opportunities to expand geographically. We have also identified strong growth potential, both organically and through add-ons.”
Arthur de Salins, Senior Investment Manager at Ardian Expansion, declared: “We strongly believe that companies which create positive social and environmental impacts will enjoy increasing competitive advantages. This is why Ardian has partnered with Nutripack Group. We were very impressed by the transition towards the responsible solutions that they have begun to implement notably through the development of the Ecocup brand for reusable cups.”
Badri Ben Grine, Managing Director at Crédit Mutuel Equity, added: “We are delighted to have supported the strong development of the Nutripack/Ecocup Group since 2015, in particular through the implementation of an active external growth policy that has strengthened its industrial base in Europe and made it a leader in reusable cups. The new capital organisation will enable the Nutripack/Ecocup management team, under the leadership of Philippe Berthe, to embark on a new development cycle by capitalizing on the group’s solid fundamentals.”
Source: Company Press Release