M&A Deal Summary

The Blackstone Group, Lion Capital and European Capital Acquire Orangina

On November 21, 2005, private equity firms The Blackstone Group, Lion Capital and European Capital acquired beverage company Orangina for 1.3B GBP

Acquisition Highlights
  • This is The Blackstone Group’s 1st, Lion Capital’s 1st and European Capital’s 1st transaction in the Beverages sector.
  • This is The Blackstone Group’s 56th, Lion Capital’s 0th and European Capital’s 4th largest (disclosed) transaction.
  • This is The Blackstone Group’s 2nd, Lion Capital’s 1st and European Capital’s 3rd transaction in the Netherlands.
Investment Fate
  • Orangina was sold to a publicly-traded strategic buyer in 2009.

M&A Deal Summary

Date 2005-11-21
Target Orangina
Sector Beverages
Buyer(s) The Blackstone Group
Lion Capital
European Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 1.3B GBP

Target

Orangina

Amsterdam, Netherlands
website
Orangina is a fruit-based soft drinks business that markets, bottles, distributes and franchises a number of carbonated and other soft drinks. Orangina was founded in 1936 and is based in Amsterdam, Netherlands.

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Buyer(S) 3

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 89 of 319
Sector (Beverages) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 34 of 74
Country (Netherlands) 2 of 5
Year (2005) 10 of 11
Size (of disclosed) 56 of 167
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-01 TDC Group

Copenhagen, Denmark

TDC Group is a provider of communications and entertainment solutions. TDC Group has become two companies, each with its own core areas, which work towards a digital future, TDC NET delivers the best mobile network and the fastest fixed-line connections – and represents Denmark’s digital future with a roll-out of fiber and 5G. Nuuday is the leading service provider of digital services within TV, broadband, network, and telephony for private customers and businesses and consists of nine-strong brands.

Buy $15.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Spirit Pub

Staffordshire, United Kingdom

Spirit Pub Company plc is the largest managed pub operator in the U.K., with over 2,400 pubs serving alcohol and food in both suburban and urban locations. MLGPE provided equity to support the acquisition of Spirit by Texas Pacific Group, The Blackstone Group, and CVC Capital Partners.

Sell £2.7B
Buyer

Lion Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 4.3B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Lion Capital LLP is a specialist private equity firm focused on consumer-oriented opportunities throughout Europe and North America. Specific areas of interest include apparel, accessories, luxury goods, food, and specialty retail. Lion Capital LLP was formed in 2004 and is based in London. The Firm has an additional office in New York City.


DEAL STATS #
Overall 5 of 42
Sector (Beverages) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 3 of 10
Country (Netherlands) 1 of 4
Year (2005) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-11 Wagamama

Southwark, United Kingdom

Wagamama provides pan-Asian inspired cuisine serving food based on Japanese cuisine with 108 restaurants around the world. Wagamama was formed in 1992 and is based in London. United Kingdom.

Buy £103M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-10 La Senza

Middlesex, United Kingdom

La Senza owner of the La Senza brand in the United Kingdom and Europe, was a specialist retailer of bras, matching briefs, nightwear and bra accessories and the largest independent retailer in the United Kingdom focused on the lingerie market. La Senza operated a network of over 200 retail outlets, consisting primarily of directly-owned stores and concessions in the United Kingdom and Ireland, and franchises in fourteen countries across Europe. La Senza was founded in 1990 and is based in Middlesex, United Kingdom.

Buy -
Buyer

European Capital

London, United Kingdom

website


Category Private Equity Firm
Founded 2005
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

European Capital is the European investment affiliate of American Capital. European Capital looks to provide a variety of investment and financing solutions including unitranche debt, mezzanine capital, senior debt, and equity co-investment. Funds are typically used to support buyouts, recapitalizations, finance growth, and make acquisitions. European Capital is sector agnostic, however the Firm has a preference for investments in the consumer, technology, manufacturing, services, and distribution sectors. European Capital was formed in 2005 and is based in London.


DEAL STATS #
Overall 11 of 74
Sector (Beverages) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 32
Country (Netherlands) 3 of 4
Year (2005) 9 of 9
Size (of disclosed) 4 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-17 Marco Polo Foods Pty

Campsie, Australia

Marco Polo Foods Pty Ltd is an Australian owned distribution, sales and marketing company and is one of Australia’s successful food importers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Get AS

Oslo, Norway

Get AS (“Get”) is a provider of cable TV, high-speed broadband internet and telephony services to residential customers in Norway. The company serves approximately 375,000 households, with a footprint spanning each of Norway 's five largest cities. Get's core service offering is Pay TV; all of its customers subscribe to it. It also offers broadband and voice services. Get operates a fully digitized network, and is the only significant local loop provider outside of telecom incumbent Telenor.

Buy -