Labeyrie

A recipe for success in the gourmet food market

Overview

Labeyrie Fine Foods is the leader in gourmet food in France and the UK, and exports to over 40 countries. The company is a leader in several gourmet food segments, particularly in smoked salmon, foie gras, blinis, fresh fish and shrimps. Labeyrie sells both branded and private-label products in France and the UK, and has 15 production sites and a workforce of around 4,000 people.

 

Building on our expertise

This investment was sourced on a proprietary basis from the French farmers cooperative Lur Berri, a majority shareholder of the company who was looking for a new partner. We entered into a bilateral discussion with the vendor on the basis of our strong experience in the food industry, our history of successful partnerships with industrial investors (including the Sodiaal cooperative on the Yoplait investment), and our ability to transform Labeyrie into the European leader for “Food for Pleasure”.

  • 10%

    per annum organic growth

  • +35%

    revenue growth since acqusition

  • How did we transform Labeyrie

    PAI invested in Labeyrie with the ambition to capitalise on the company’s favourable position in the cycle and the opportunity to expand internationally and into other premium food categories notably through M&A.
    Since acquisition, PAI has launched a set of strategic initiatives to strengthen the management, improve the cost structure and optimise the production process.

Transformation through acquisitions

We saw significant potential for the company to further expand in this segment. Labeyrie completed a number of acquisitions to develop its product offering.

  • 4 add-on

    acquisitions since PAI investment

Building a foundation for international expansion

With the successful execution of Labeyrie's value creation plan, we began to increase our geographical presence, notably in Benelux. We will continue to expand internationally.

  • 40

    countries

Meet the deal team

  • Frédéric Stévenin

    Partner
    CIO
    Food & Consumer

    Frédéric Stévenin

    Food & Consumer | Healthcare
    Partner
    CIO

    Frédéric is the partner in charge of the Food & Consumer and Healthcare Sector Teams.

    He first joined PAI in 1993 and spent five years in the Food & Beverage Sector Team. In 1998, he joined Deutsche Bank / Bankers Trust in the European Acquisition Finance Group as a Director and subsequently as Managing Director. In June 2001, he returned to PAI, where he has been involved in a number of transactions including Panzani, Amora Maille, William Saurin, Antargaz, Yoplait, Elis, Panzani-Lustucru, Saeco, Chr. Hansen, UB, Kaufman & Broad, Cerba, Marcolin, Froneri, DomusVi and Labeyrie.

    Frédéric studied at ESCP, and started his career with Banque Paribas in the Advisory team of the Private Banking division. His French and English are fluent, and he is conversational in Spanish.

  • Gaëlle d’Engremont

    Partner Food & Consumer

    Gaëlle d’Engremont

    Food & Consumer
    Partner

    Gaëlle joined PAI in 2004 and is a member of the Food and Consumer Sector Team. She has been involved in a number of transactions including Chr. Hansen, United Biscuits, Perstorp, Froneri, Labeyrie, B&B Hotels and Roompot.

    She started her career at Unibail where she spent two years before spending four years at Group Casino.

    Gaëlle graduated from ESSEC in 1997. Her French and English are fluent, and she is conversational in Spanish.

  • Bertrand Monier

    Principal Food & Consumer

    Bertrand Monier

    Food & Consumer
    Principal

    Bertrand joined PAI in 2011 as a member of the Investment Group, and has been involved in a number of transactions including Atos, Marcolin, Perstorp, Froneri, Labeyrie, Hunkemöller and Roompot.

    He started his career at the Boston Consulting Group in Paris as a strategy consultant, where he spent two years.

    Bertrand graduated from HEC in 2009. His French and English are fluent, and he is conversational in German.

Back to top