The European investment fund Montagu Private Equity entered into exclusive negotiations with a consortium led by the first Chinese private conglomerate Fosun and its compatriot Sanyuan for the acquisition of the French margarine specialist, the company ST HUBERT.
The operation could amount to 600 million euros while St Hubert achieves approximately 130M€ in turnover with well-known brands such as St Hubert Omega 3, organic ranges and 5 cereals.
It is mainly present in France where it claims the place of number two with more than 40% of the market of low fat but also in Italy under the brand Vallee.
In recent years, St Hubert had diversified into ranges of desserts and beverages based on soy.
Fosun (turnover: €10,000 million), which is very active in finance, tourism (Club Med) and the health sector, is not a player in the agri-food sector but its partner, the public group Sanyuan (turnover: €750 million), listed on the Shanghai stock exchange, is specialized in agri-food and especially livestock.
Montagu leader Patrick Cahuzac said: “With the help of Fosun and Sanyuan, we plan to continue the development of St Hubert in France and Italy, strengthen its leading position and accelerate its internationalization, particularly in China, where the market has enormous potential.”
For more information :
Les Echos 31 juillet 2017
Le Monde 28 juillet 2017