M&A Deal Summary

L Capital Management, Cerea Partners and CAPZA Acquire Groupe Bertrand

On June 1, 2006, private equity firms L Capital Management, Cerea Partners and CAPZA acquired restaurant Groupe Bertrand

Acquisition Highlights
  • This is L Capital Management’s 1st, Cerea Partners’ 2nd and CAPZA’s 1st transaction in the Restaurants sector.
  • This is L Capital Management’s 4th, Cerea Partners’ 7th and CAPZA’s 7th transaction in France.
Investment Fate
  • Groupe Bertrand was sold to a consortium of financial buyers in 2012.
  • Groupe Bertrand was sold to management in 2016.

M&A Deal Summary

Date 2006-06-01
Target Groupe Bertrand
Sector Restaurants
Buyer(s) L Capital Management
Cerea Partners
CAPZA
Deal Type Buyout (LBO, MBO, MBI)

Target

Groupe Bertrand

Paris, France
Groupe Bertrand is a independent restaurant groups in France.

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Buyer(S) 3

Buyer

L Capital Management

Paris, France

Category Private Equity Firm
Founded 2001
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

L Capital Management is a private equity firm that focuses on acquiring businesses primarily in Europe and also look for potential opportunities in North America and Asia. It looks to invests €15 - €60 million in companies with revenues of €30 - €400 million. The firm seeks to hold both minority and majority stake in portfolio companies along with co-investors. Specific areas of interest include personal care and well-being, personal equipment, home and family equipment and selective retailing. Types of transaction include LBO’s and growth capital financing. L Capital is sponsored by the LVMH Group and Groupe Arnault. L Capital was formed in 2001 and is based Paris, France with additional offices in Milan, Italy and Madrid, Spain.


DEAL STATS #
Overall 14 of 26
Sector: Restaurants M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 11 of 16
Country: France M&A 4 of 8
Year: 2006 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 Antichi Pellettieri

Cavriago, Italy

Antichi Pelletieri is a holding company of 8 Italian brands in the accessible luxury segment of leather apparel, shoes and accessories. Products are sold in Europe through a network of over 350 monobrand and multibrand stores.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-11 Piazza Sempione

Milano, Italy

Piazza Sempione is an Italian women’s aspirational apparel brand with strong positions in the North-American market. Piazza Sempione designs high-quality clothing with a casual chic style.

Buy -
Buyer

Cerea Partners

Neuilly sur Seine, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.5B EUR
Size Large
Type Sector Focused
DESCRIPTION

Cerea Partners is a specialist investment firm focused on investing in and providing finance to agriculture and related sustainable food businesses. Cerea primarily targets companies in Western Europe and looks to invest in companies valued between €20 and €500 million. Prospective transaction situations includes LBOs, LBIs, OBOs, and spin-offs. Cerea Partners was formed in 2004 and is based in Paris, France.


DEAL STATS #
Overall 8 of 72
Sector: Restaurants M&A 2 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 31
Country: France M&A 7 of 59
Year: 2006 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 La Croissanterie

Clichy, France

La Croissanterie is a sandwich,sweet pastry restaurant chain and has 161 restaurants, two-thirds of which it directly manages. La Croissanterie was founded in 1977 and is based in Clichy, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Linxis Group

Nantes, France

Linxis Group is a manufacturer of industrial equipment for the production of food, pharmaceutical, and cosmetic products. Linxis Group consists of six companies within their respective markets, designing, engineering, manufacturing, and installing equipment for food, cosmetics, and pharmaceutical production lines. Linxis Group was founded in 1988 and is based in Nantes, France.

Buy -
Buyer

CAPZA

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 9.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CAPZA is a provider of equity and junior capital to small and medium-sized unlisted French companies. CAPZA does not have any sector preferences and looks to invest in companies valued from €20 to €400 million. CAPZA was formed in 2004 and is based in Paris.


DEAL STATS #
Overall 8 of 118
Sector: Restaurants M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 42
Country: France M&A 7 of 102
Year: 2006 M&A 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-05 Credirec SA

Paris, France

Credirec is a specialist in the purchase, recovery and management of non-performing loans.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-01 DCM Group SA

Nanterre Ville, France

DCM group is a manufacturing printing and converting machines for the flexible packaging materials, paper, film, foil and board.

Buy -