Mid-market European private equity firm Motion Equity Partners‘ portfolio company, Diana has made its fourth acquisition since June with the acquisition of Givaudan’s vegetables, wines and vinegars extracts range. Diana is a natural ingredients specialist headquartered in France.
Motion Equity Partners, the independent mid-market European private equity firm, is pleased to announce that its portfolio company, Diana, the natural ingredients specialist headquartered in France, has made its fourth acquisition since June with the acquisition of Givaudan’s vegetables, wines and vinegars extracts range, a business which achieved €10 million of sales in 2011.
Givaudan is a global leader in the food and fragrance industry and is listed on the SIX Swiss Stock Exchange. Diana used to manufacture the extracts range on behalf of Givaudan, and the acquisition will bolster Diana’s market-leading position in the provision of natural flavouring to the food industry.
In parallel, Motion Equity Partners also supported Diana in its $63.5 million fundraise from two mezzanine lenders, JP Morgan Securities and MezzVest.
Patrick Eisenchteter, Managing Partner of Motion Equity Partners, said: “We have been a shareholder in Diana since 2004 and helped Diana to grow through acquisitions is a key part of the value creation strategy. The additional equity from Motion Fund, coupled with the fundraise, has given the Group the resources to seize those unique opportunities.”
This Givaudan deal represents Diana’s fourth acquisition since June. These others include Pacific Pure-Aid, a US-based manufacturer and supplier of vegetable extracts and concentrates for various applications in the agri-food industry such as ready meals, soups, sauces, cereals and snacks, and Arômes de Chassé, a French producer of high quality mushroom extracts (concentrates and powders) for the agri-food industry.
Olivier Caix, Diana’s CEO, said: “Since its inception, Diana has been actively involved in fast-growing markets and has continued to perform strongly. We have implemented an ambitious acquisition strategy, notably in the food ingredients sector, which remains very fragmented. Thanks to the support of our shareholders, we have been able to close four acquisitions since June, which clearly positions us as a world leader in natural solutions for the agri-food industry. We will now look for additional bolt-on opportunities.”
Patrick Eisenchteter – Managing Partner – +33 (1) 53 83 79 19
Anthony Baudoin – Associate – +33 (1) 53 83 79 18
Notes to Editors
Motion Equity Partners
Motion Equity Partners is a leading European private equity firm with €1.3 billion of assets under management. Motion Equity Partners benefits from a strong track record of successful investments.
Its Fund I, raised in 2001, has been fully exited and delivered a first rate performance. Motion Equity Partners currently advises a second fund, raised in 2005 with a total equity value of €1.3 billion.
Motion Equity Partners has a team of experienced private equity professionals in Paris and Milan focusing on mid-market buyouts (up to € 400 million in value).
Diana is a world leader in natural functional solutions for the food, pet food, nutraceuticals, aquaculture and cosmetics industries, and a technology leader in plant cell culture, dedicated to the production of active ingredients for food, cosmetics and health.
Diana is improving the sensorial and nutritional performance of its customers’ products thanks to its unique biosciences expertise and helping them conquer new markets.
Of its 1500 employees, almost 15% are dedicated to R&D. Present in 22 countries, the Group is developing R&D platforms on all continents, so as to best meet its customers’ requirements and local specificities. In 2011, the group reported turnover of € 392 million, three-quarters of which was in exports.
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