Montagu Private Equity (“Montagu”), a leading pan-European Private Equity investor, today announces that it has received a binding offer and entered into exclusive negotiations with a consortium led by Fosun International Ltd (“Fosun”) and Beijing Sanyuan Foods Co., Ltd (“Sanyuan”) for the sale of plant-based food leader St Hubert.
Headquartered in Rungis, St Hubert is the leading manufacturer of branded non-butter health spreads in France and Italy. During Montagu’s ownership and under CEO Patrick Cahuzac’s leadership, St Hubert has successfully extended its leadership in its core health spreads business and also entered new attractive plant-based categories such as soy-based desserts and plant-based drinks. Montagu acquired St Hubert from Dairy Crest Plc. in partnership with its management team in a primary buy-out in 2012.
Patrick Cahuzac, CEO of St-Hubert said: "Over the last five years, St-Hubert has continued to develop in line with our long-term strategy and commitment to developing products that are both tasty and have health benefits. With the help of Fosun and Sanyuan, we are excited by the prospect of further growing our leadership in France and Italy and accelerating our international expansion, particularly in the Chinese market which offers significant potential.”
The proposed transaction will be submitted to St Hubert’s workers’ council and is subject to clearance from relevant competition and regulatory authorities.