Business for the Charles & Alice Group just went sweeter. Private equity firm Equistone Partners Europe Limited gave the French fruit dessert maker its backing to accelerate its growth both locally and abroad. The deal which was signed together with CM-CIC Capital Finance was part of a secondary management buyout. President Thierry Goubault and his management team represented Charles & Alice Group in the transaction which is expected to be completed in September.
Goubault said that the deal will surely foster the dessert manufacturer's expansion. "In addition to increasing the management's investment in the business to over 20%, this deal will give Charles & Alice a major international investor which will be able to support the acceleration of our growth. We also extend our thanks to CM-CIC Capital Finance, who first partnered with our business in 2007, and has supported us ever since, notably for the merger with Hero France," he said in a press release.
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