Paris, September 11, 2024 – Seven2 (formerly known as Apax Partners), a leading European private equity firm, has signed an agreement with an affiliate of One Rock Capital Partners to sell its majority stake in Europe Snacks, a leading pan-European player in savoury snacks for third-party brands. Europe Snacks will continue to develop and accelerate its growth in Europe, having multiplied its revenue by eight since Seven2 invested in the company.
Founded in 1991, Europe Snacks is a leading pan-European private-label player in savoury snacks, supplying major food retailers throughout Europe and acting as a trusted co-manufacturing partner to international brands in the region. Europe Snacks develops, produces and markets more than 1,200 product references of savoury snacks sold in over 50 countries from its factories located in France, the UK and Spain. The company employs more than 2,200 people.
Under Seven2’s ownership, Europe Snacks has grown from a French player into a pan-European leader through both organic development and M&A.
Successful international expansion and M&A strategy
Seven2 supported Europe Snacks in its M&A strategy and turned it into a consolidation platform in Europe with strong integration capabilities.
Under Seven2’s ownership, Europe Snacks completed 3 transforming acquisitions: Kolak Snack Foods (UK) in 2016, Grupo Ibersnacks (Spain) in 2018, and Burts (UK) in 2023.
Its share of international revenues outside France exceeds 75%, from 3% at Seven2’s entry.
Acceleration of innovation and partnerships
Europe Snacks has continuously unlocked growth through its wide offer of delicious snacking products, a dynamic innovation pipeline and trustful relationships with its partners.
Supported by Seven2, the company has invested significantly in market-leading production facilities to increase capacity and ensure a remarkable service level. In particular, Europe Snacks has become a trusted co-manufacturing partner for leading international brands.
Significant sustainability investments
Europe Snacks has implemented a long-term sustainability strategy, aimed at promoting a secured workplace, contributing to healthier and more responsible snacking and limiting its environmental footprint. Seven2 has supported Europe Snacks’ management team on several key projects, including the implementation of new safety measures which resulted in an 80% decrease in accident frequency between 2019 and 2023. Additionally, Seven2 has assisted Europe Snacks in developing an ambitious decarbonization strategy with a tangible roadmap, aiming to reduce Scope 1 & 2 emissions by 80% by 2030.
“We would like to congratulate the entire Europe Snack team on their commitment to our ambitious growth strategy. By multiplying the Group’s revenue by eight under our ownership, this Vendée-based ETI has become a pan-European champion in its sector. We trust that it will continue to grow at a rapid pace over the coming years” said Bruno Candelier, Managing Partner at Seven2.
“Europe Snack’s growth is remarkable, and I’d like to thank Seven2, along with Crédit Mutuel Equity and Société Générale Capital Partenaires, for constantly supporting us and having allowed us to embark on a new phase of international development. At Europe Snacks, our objectives have always been to bring innovation and added value to our customers” added Etienne Lecomte, Europe Snacks CEO.
List of Advisors
- Seven2 – Investment Team: Bruno Candelier, Julien Birman, Noémie Bristol Courgeon
- M&A advisory: Lazard (Charles Duhamel, François Guichot-Perere, Clara Almendros)
- Legal advisory: A&O Shearman (Marc Castagnède, Jules Lecoeur, Yasmine Benhmida, Arthur Curti) and Charles Russell Speechlys (Martin Wright)
- Tax advisory: Arsene Taxand (Yoann Chemama, Claire Kitabdjian)
- Financial Due Diligence: Deloitte (Leonardo Clavijo, Lisa Lauv, Julie Demangel, Emily Chaillou)
- Strategic & ESG Due Diligence: Bain & Co (Daphné Vattier, Romain Deleforge)
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
