M&A Deal Summary

Heinz Acquires Bénédicta S.A.

On July 7, 2008, Heinz acquired food company Bénédicta S.A. from Ardian and Cerea Partners

Acquisition Highlights
  • This is Heinz’s 4th transaction in the Food sector.
  • This is Heinz’s 1st transaction in France.

M&A Deal Summary

Date 2008-07-07
Target Bénédicta S.A.
Sector Food
Buyer(s) Heinz
Sellers(s) Ardian
Cerea Partners
Deal Type Add-on Acquisition

Target

Bénédicta S.A.

Seclin, France
Benedicta is a French supplier of mayonnaise and cold sauces. It is the No. 2 brand in France and supplies the private label market in France and the UK.

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Buyer(S) 1

Buyer

Heinz

Pittsburgh, Pennsylvania, United States

Category Company
Founded 1869
Sector Food
Employees32,200
Revenue 11.6B USD (2012)
DESCRIPTION
Heinz headquarters at One PPG Place in downtown Pittsburgh, Pennsylvania.
Heinz headquarters at One PPG Place in downtown Pittsburgh, Pennsylvania.

Heinz is a condiments and food processing company. The company was formed in 1869 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 6 of 9
Sector: Food M&A 4 of 5
Type: Add-on Acquisition M&A Deals 5 of 7
Country: France M&A 1 of 1
Year: 2008 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Thermo Pac

Stone Mountain, Georgia, United States

Thermo Pac LLC specializes in the processing, assembly, packaging, and distribution of portion control food products. The company manufactures products for major branded food and beverage companies, as well as shelf-stable food items for the U.S. Department of Defense. Thermo Pac is based in Stone Mountain, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 Golden Circle

Northgate, Australia

Golden Circle Ltd. is a manufacturer of canned fruit and vegetables, chilled fresh and long life juices, cordials, jams and baby foods.

Buy $288M

Seller(S) 2

SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 18 of 247
Sector: Food M&A 1 of 11
Type: Add-on Acquisition M&A Deals 3 of 63
Country: France M&A 13 of 116
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-26 Unipex Group

Paris, France

Unipex Group is a developer, manufacturer, and marketer of more than 2000 value-added products for the cosmetics, pharmaceutical, chemical and nutrition industries, Its ‘Active Ingredients and Specialty Chemicals’ division develops and produces innovative active ingredients, in addition to distributing active ingredients and special chemicals on behalf of third parties. Unipex Group was founded in 1968 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-15 Altares

Colombes, France

Altares is a provider of BtoB services - inter-companies data collection and management. Altares collects, collates, analyses enhance and structures data to make it "intelligible" and to turn it into a flexible decision-making tool for senior managers and executives. Altares was founded in 1949 and is based in Colombes, France.

Buy €15M
SELLER

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 2 of 32
Sector: Food M&A 1 of 16
Type: Add-on Acquisition M&A Deals 2 of 8
Country: France M&A 2 of 26
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-24 Leon de Bruxelles SA

Neuilly-sur-Seine, France

Léon de Bruxelles is a chain of restaurants that known for primarily serving moules-frites. Léon de Bruxelles is a French independent franchise originally set up by a Belgian restaurateur family who has run the over 100-year-old Brussels restaurant Chez Léon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-01 Pizza Pino

Paris, France

Pizza Pino is a theme restaurant chain with a concept based on pizza and traditional Italian cuisine, with city center locations. Pizza Pino is based in Paris, France.

Buy -