Lincoln International Advises Axa Private Equity on the Acquisition of Diana Ingredients for €710 million
PARIS, July 27, 2007 - Lincoln International, a leading global mid-market investment bank, today announced that Axa Private Equity, a leading private equity firm operating on the European mid-cap market, has purchased a majority stake in Diana Ingredients ("Diana" or the "Company"). Diana, headquartered in Vannes, France is a global supplier of natural extracts, flavors and functional ingredients to fast growing niche markets of the pet food and food & beverage industries. Lincoln International advised AXA Private Equity in the €710 million transaction.
"This is a landmark deal for our Consumer group," said Ludovic Rodié, Managing Director of Lincoln International. "Our team's experience and knowledge of Diana, for whom we worked on several assignments in Europe and in the United States, contributed to comfort our client on the attractive prospect of the Company in a competitive auction process."
As part of the deal, Cognetas will retain a minority interest in the Company. The management team, led by Olivier Suquet, will continue to hold a stake in the Company.
Diana employs more than 1,000 people and has 17 plants across the world in Europe, the United States, Latin America and Australia. 2006 group revenues were €254 million and are expected at€280 million in 2007.
"We are very excited to complete this transaction," said Bruno Ladrière, Director at Axa Private Equity. "Our ambition is that Diana Ingredients become a strong development platform, including through external growth, to reinforce its market positions in several products segments and regions, among which Asia, the USA and Eastern Europe."
About Lincoln International
Lincoln International specializes in merger and acquisition services and private capital raising for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, Los Angeles, New York, Paris and Vienna, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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