Paris, September 3, 2024 – Seven2 (formerly Apax Partners) has sold its majority stake in Groupe Routin, the French leader in syrups and ingredients for flavored hot and cold beverages, to Argos Wityu through its “Argos Climate Action fund”. The management and employees of the group, along with UI Investissement and Crédit Mutuel Equity, who are already minority shareholders, are reinvesting alongside Argos Wityu.
Over the past five years, Seven2 has supported the remarkable transformation of Groupe Routin from a producer of syrups for mass distribution in France to a global group specializing in ingredients for creative beverages, including syrups, sauces, fruit purées, and frappé powders, through its flagship brands 1883, Cappuccine, and Artonic.
With 140 years of experience and as a true pioneer in premium flavoring, the Group has significantly accelerated its development, doubling in size since Seven2 entered the capital.
Originally focused on a BtoC model, Routin has become a diversified group of beverage ingredients, a key player in the professional circuit of coffee shops, bars and restaurants, and foodservice. This transformation has been driven by industrial investments and strong organic growth, complemented by transformative acquisitions in both France and the United States. With Seven2’s support, the BtoB business has tripled. International sales have also tripled, now representing half of the company’s revenue.
This transformation of Routin has also been part of a long-term sustainable development strategy, enabling it to achieve the highest certifications this year: B Corp and Ecovadis Platinum.
Groupe Routin is now present in 84 countries, with a revenue of 115 million euros (2023 fiscal year) and more than 240 employees.
Caroline Rémus, Managing Partner at Seven2, stated: “We have had an exciting journey alongside Loic Couilloud and his team, who are deeply committed to the development in all its forms of this beautiful SME located at the foot of the Alps, which has become a global player. Its development in the United States, particularly with the acquisition of Cappuccine, was one of the many highlights of its expansion. By passing the baton to Argos Wityu, we are proud that Routin is also recognized as a company with an exemplary ESG strategy. Argos Wityu will not only continue the growth momentum but will also further advance the Group’s sustainability initiatives.”
Loïc Couilloud, CEO of Groupe Routin, commented: “ We’ve just come through an exciting 5-year period with numerous growth projects in France and abroad. The management team and I are delighted to be exploring new development opportunities in the future in a sector that is still undergoing rapid change, and which we are approaching with energy and enthusiasm. I would like to thank Seven2 for its confidence and support, which is always appreciated by the management team. The Routin story will continue with Argos Wityu, and I’m looking forward to meeting tomorrow’s challenges, whether economic or CSR, and continuing the Group’s profound transformation.”
This transaction marks the second exit in 2024 for the Apax Development Fund (“ADF I”) after Diapason, at a time when the new Apax Development Fund II (“ADF II”) is being raised.
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This is a promotional communication. Please refer to the regulation and key information document of the ADF II fund before making any final investment decision. Investment in this fund is reserved for qualified investors art. 423-49 RGAMF and carries risks of capital loss and liquidity. Past performance is not indicative of future performance.
Advisory Team on the Transaction
- Seven2 – Investment Team: Caroline Remus, Martin Bouilleux, Alexandre Moulle-Berteaux
- Seven2 – Sustainability Team: Dominica Adam, Océane Bardi
- M&A Advisory: Edmond de Rothschild (Nicolas Durieux, Jules Bouvet, Willy Pradel, Emma Dispard, Clément Gibert)
- Legal Advisory: Mermoz (Tristan Segonds, Guillaume Bain, Eléanore Griffiths)
- Financial Due Diligence: Eight Advisory (Sandrine Vouillon, Angélique Lavaud)
- Strategic Due Diligence: Fast Up (Charles Tonlorenzi, Rémi Honoré, Nicolas Paulin)
- ESG Due Diligence: Indefi (Emmanuel Parmentier, Victor le Marois, Carolin Gorzelitz)
Press contacts
Lauren Bardet
Seven2 – Communications Director
+33 6 16 32 72 82
lauren.bardet@seven2.eu
Jérôme Goaër – Verbatee
+33 6 61 61 79 34
j.goaer@verbatee.com
Valérie Sabineu – Verbatee
+33 6 61 61 76 73
v.sabineu@verbatee.com
