NEWS
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09/01/2017
Cerea Partners raises €M 693
Cerea Capital II holds final close on €M 225€M 200 investment capacity for Cerea Mezzanine III
The double final close comes shortly after that of Cerea Dette I on €M 268 in April 2016, above its initial objective, and provides Cerea Partners with the means to achieve its ambition of being the privileged investor-partner for Agrobusiness companies seeking to accelerate their growth.
The funds received strong support from European institutional investors including insurers, pension funds, funds of funds and banks as well as some private investors. Unigrains, sponsor of Cerea Partners, continues to support the team and provided 16% of the capital raised.
Cerea Capital II
At €M 225, 70% larger than its predecessor, Cerea Capital II surpassed its €M 200 initial objective. The Fund focuses on majority or co-majority stakes in primary and secondary buy-outs, hand-overs, acquisitions, spin-offs and PtoP in Western European Agrobusiness companies between €M 20 and €M 250.
Several advanced opportunities are currently under review and three have already been completed:- Krampouz, the global leader in professional crepe makers and top of the range cooking equipment
- Cérélia, the European #1 in ready-to-bake chilled doughs for pies, pizzas, cakes and pastries
- La Comtoise, a major French player on the processed cheese market
Cerea Mezzanine III
With an investment capacity of €M 200, Cerea Mezzanine III is roughly 60% larger than its predecessor and was raised in just 7 months, largely surpassing its initial objective. The Fund provides mezzanine financing for acquisitions and organic growth projects as well as leveraged transactions and shareholding restructuring for Western European Agribusiness companies, arranging financing between €M 2 and €M 50. Three operations have already been completed (Pacific Pêche, Europe Snacks and Sasa Industrie) and two others are currently being finalized.
Cerea Dette
With €M 268 in commitments, the first generation of the Cerea Dette program surpassed its initial objective by over 30%. The Fund provides senior loans, private placements and unitranche bonds for buy-outs, growth investments and business funding with underwriting between €M 5 and €M 50. Since its launch, the fund has seen a solid investment pace with nearly two thirds of the capital deployed through 17 investments.
The Investor-Partner of Choice in Agrobusiness
The successful dynamic demonstrates the pertinence of Cerea Partners's innovative model which combines the deep knowledge of a sector specialist with the flexibility of a full service investment platform. Dedicated to European SMEs across the Agrobusiness spectrum (food, agro-industry, distribution, catering, equipment, packaging, logistics and related services), Cerea Partners is the financial and strategic partner of choice, whether it be through buy-out, mezzanine, unitranche, debt financing or private placement.
Led by Michel Chabanel, with Gilles Sicard for equity investments and Fabrice Vidal for mezzanine financing and senior debt, the Cerea Partners team is composed of 16 investment professionals; one of the largest and most experienced teams dedicated to Agrobusiness. More than 80 transactions have been completed since 2004.
Michel Chabanel, CEO of Cerea Partners, declared: "We are proud of the trust investors have placed in our approach and their eagerness to gain exposure to the Agrobusiness opportunities we have identified in France and Western Europe. Effectively doubling in size and scope, Cerea Partners is now more than ever positioned to add value, leveraging our dedicated, sector expertise and a complete range of financial solutions to best meet the needs of companies."
- Krampouz, the global leader in professional crepe makers and top of the range cooking equipment
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