Snacks International, a market leader for private label salted snacks in France, has received a private equity investment of undisclosed amount from IK Investment Partners.
Following the transaction, IK will retain a majority stake in the company. Financing of the transaction is underwritten by Le Crédit Lyonnais and Céréa Mezzanine.
Acquired in 1997 by Jean-Pierre Caillavet, the current owner and Chairman, Snacks currently holds over 60% of the salted snack private label market in France, but also operates in the entry price and hard discount sectors. The categories that the company currently focuses on include stapled chips and extruded products.
IK will support Snacks International in advancing to the next phase of development. The company plans to develop the existing product range, to launch new product lines, as well as to expand into the UK.
Commenting on the investment, Jean-Pierre Caillavet said: “I am delighted that IK have invested in Snacks International and look forward to working closely with them as we continue to successfully expand the business.
“I am particularly excited by the opportunities to launch new products and develop the business internationally. IK brings real hands-on experience which will be invaluable as we take the business forward”, he added.