January 11, 2017

Céréa Capital, a Paris-based equity firm focused on raising, managing, and advising funds involved in buy-outs and mezzanine and debt financing in the agribusiness sector, has completed a double closing with a total value of €425 million (US$449 million).

Sixteen percent of the capital raised was committed by Unigrains, the firm’s sponsor, however, the funds were also backed by a range of European pension funds, institutional investors, banks, funds of funds as well as private investors, and industrial groups according to the firm’s website.

The Funds

Céréa Capital II surpassed its target of €200 million (US$211 million) to close at €225 million (US$238 million), and outsized its predecessor, Fund I, by 70 percent. The object of the fund is to invest in Western Europe-based agribusinesses valued between €20 million and €250 million (US$21 million – US$264 million) through the acquisition of majority or joint-majority stakes, secondary buy-outs, spin-offs, hand-overs and acquisitions.

Although a series of investment are currently under consideration, Closing Circle reports that three have been completed:

Krampouz: a French manufacturer of high-quality crepe makers and culinary equipment,

Cérélia: a French producer of chilled, ready-to-bake doughs for pies, pizzas, cakes, pastry and filo sheets, and pastries, and,

La Comtoise: a leading French supplier of processed cheeses.

Céréa Mezzanine III raised €200 million within only a seven month time span, surpassing its initial target, and making it 60 percent larger than its predecessor mezzanine fund. Mezzanine III backs agriculture-related companies in Western Europe in deals ranging between €2 million and €50 million (US$2.1 million – US$53 million) and like Céréa Capital II, has closed on three deals:

Pacific Pêche: A French fishing equipment supplier,

Europe Snacks: A French group specializing in the production of savory snacks, and,

Sasa Industrie: A French baking and confectionery resource supplier.

–Lynda Kiernan

Lynda Kiernan is Editor, GAI Media and daily contributor to GAI News. If you would like to submit a contribution for consideration please contact Ms. Kiernan at lkiernan@globalaginvesting.com