London-based private equity firm BC Partners has acquired French natural healthcare group Havea from 3i Group for $1.16bn.
BC Partners led the investor group in partnership with PSP Investments and National Pensions Services Investment Management (NPS). The bidder intends to accelerate Havea’s pace of M&A and continue investing in digitalisation.
“The business has made five key strategic acquisitions since 2017, and we look forward to working with the team to drive Havea’s continued international expansion,” said Fouad Jaïdi, managing director at BC Partners.
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Proceeds to 3i will represent around 50% uplift to its 31 March valuation. Havea, which owns brands such as Aragan, Biolane and Vitavea, employs over 800 people and is headquartered in Boufféré, France.
Nicolas Brodetsky, CEO, Havea, said: “Our partnership with 3i has been very successful. With their active support, Havea has grown substantially and established its leadership position in natural healthcare. We have laid all the right foundations to become the reference player, with a continued focus on improving our consumers’ quality of life with natural products. Partnering with BC Partners, which has extensive experience in fostering portfolio companies’ potential, would be a great opportunity. We share a common vision of the winning strategy to accelerate our development on a larger scale and become the undisputed European leader.”
Rémi Carnimolla, Partner & Managing Director, 3i, added: “The thesis supporting our investment in Havea was to back the global megatrend towards more natural and sustainable healthcare products. Havea benefits from this thanks to its strong innovation culture and willingness to constantly improve and understand the consumer journey. Havea’s tremendous development was made possible by Nicolas and his team. We are proud to have partnered with them; their agility and fantastic entrepreneurial culture will lead them to even greater successes.”
Completion of the transaction remains subject to the information and consultation of the employees’ representative bodies of Havea and to customary regulatory and antitrust approvals. The transaction would be expected to close by Q4 2022.
Source: Yahoo Finance
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