PDF file - Naxicap Partners

Press Release
Lyon, 9 December 2014
PRONATURA cultivates its growth with NAXICAP
NAXICAP Partners acquires ProNatura, in partnership with Lionel Wolberg, who has managed the
company for 2 years, while Activa Capital and Henri de Pazzis, its founder, exit. A leading player in
the organic produce sector setting up supply networks of organic fruit and vegetables from
farmers through to retailers, ProNatura recorded sales of over €83 million in 2013.
Founded 27 years ago from a passion for organic farming and the ambition of founding an enterprise
based on a core group of farmers and customers true to these values, there are three cornerstones to
ProNatura’s activities: widely diversified sourcing of 300 products from 1,500 farmers; efficient logistics
with 4 platforms which cover the whole of France and make over 1,000 deliveries daily; and a high level of
quality and traceability, unique in organic produce. Since his arrival in 2012, Lionel Wolberg has structured
the multi-channel distribution strategy and strengthened the company’s links with its customers, so as to
offer a wide choice of high-quality produce at the best price in order to promote the supply of organic fruit
and vegetables, for which customer demand is increasing rapidly.
“This transaction is the start of a new phase for ProNatura with the development of new services creating
value for all the supply chain of 100% organic fruit and vegetables, to aim for excellence and win new
customers,” states Lionel Wolberg, CEO of ProNatura.
Activa Capital hereby ends a successful 9-year partnership which started when Henri de Pazzis was
looking for a financial investor in 2005 to finance his policy of external growth. During this period,
ProNatura has more than doubled its activity and redesigned its strategy with the arrival of Lionel Wolberg
as Henri de Pazzis gradually stepped down.
The development of closer relationships with its customers over the past two years and its strategic
expansion into the MIN (Marchés d’Intérêt National - wholesale food markets) of Rungis in January and
Nantes at the end of this year are consolidating the added value and the visibility of ProNatura to better
serve both the suppliers and consumers of organic produce.
“A trailblazer in the organic food value chain which has become THE model for produce supply networks,
ProNatura is establishing a virtuous strategy by placing farmers and customers at the heart of its actions.
Our partnership with Lionel Wolberg aims at consolidating and supporting the development of its activities
to reinforce ProNatura’s leadership at a time when food safety and responsible consumption are becoming
important issues in our society,” comments Virginie Lambert, Partner at NAXICAP Partners.
Contacts :
Entreprise : PRONATURA
Lionel WOLBERG, CEO
Investor :
o
NAXICAP Partners
Virginie LAMBERT, Partner
Sellers :
o
o
Henri de PAZZIS, Founder
ACTIVA CAPITAL
Christophe PARIER, Partner
Benjamin MOREAU, Investment Manager
M&A Consultants :
o
o
BUCEPHALE FINANCE
Romain PETIT, Vice-President
Jonathan FARRUGIA, Analyst
KEPLER CORPORATE FINANCE
Olivier DARDEL, Managing Director
Buyer’s Consultants & Due Diligences:
o
o
o
o
o
o
o
Corporate Advisory and Legal Audit: BM Partners
Karine BUDIN, Partner
Fiscal Advisory and Audit: BLUM, DE CARLAN & Associés
Amaury de CARLAN, Partner
Competition Law Advisory: FIDAL
Olivier LEROY, Avocat Associé
Financial Due Diligence: EXELMANS
Eric GUEDJ, Partner
Manuel MANAS, Director
Thomas CHARMEAU, Manager
Sales Contracts Due Diligence: DE FACTO Avocats
Anne-Julie GUIBERTEAU, Partner
Social Due Diligence: FROMONT BRIENS
Laurence URBANI-SCHWARTZ, Partner
Leases Due Diligence: LAMY & Associés
Anne BOLLAND-BLANCHARD, Partner
Sellers’ Consultants & Due Diligences:
o
Legal Consultants:
NABARRO & HINGE
• David LUSSIGNY, Partner
o
LACOURTE RAQUIN TATAR
• Nicolas JULLICH, Partner
Financial and strategic VDD: EY
Emmanuel PICARD, Partner
Managers’ Consultants:
o
o
o
Legal Consultant:
CURTIS
• Carole DEGONSE, Partner
• Diana HUND, Lawyer
Fiscal Consultant:
ARSENE TAXAND
• Franck CHAMINADE, Partner
Financial Consultant:
SILVER
• Stéphane ARGYROPOULOS, Partner
Banks :
o
o
o
o
Co-Arrangers : SMC and CIC
SMC
• Vincent GINGUAY, Structured Finance deputy manager
• Sylvain DUBOUIS, Business Agency manager
CIC
• Aurélie BRAJON, Specialized finance
• Frédéric LAINE, Business Agency manager
Participant : LCL
Pascal CHARBONNEAU, Director
Xavier LEGENDRE, Business Analyst
Participant : BANQUE POPULAIRE PROVENCALE ET CORSE
Jean-Pierre MURISASCO, Large Business Analyst
Legal Consultant:
AXTEN
• Clyve MONFREDO, Partner
• Maryline PIC DEHONGHER, Lawyer
• Vanessa ALVAREZ, Lawyer
Mezzanine :
o
o
BPI France Investissement
Philippe DUTHEIL, Investment manager
Maud MOULIN, Investment analyst
Legal Consultant:
DE GAULLE FLEURANCE & ASSOCIES
• Jonathan SOUFFIR, Lawyer
About NAXICAP Partners
One of France’s leading private equity companies, Naxicap Partners totals €1.6 billion of capital under
management. An active and responsible investor, Naxicap Partners builds solid and constructive
partnerships with the entrepreneurs it supports on which to base the success of their projects. A subsidiary
of Natexis, the company’s 38 investment professionals are organized in three teams: Small Caps, Mid
Caps and Innovation & Growth, working from 5 regional offices: Paris, Lyons, Toulouse, Strasbourg and
Nantes.
For more information visit www.naxicap.fr
About ProNatura :
A pioneer in its market, ProNatura is the French and European leader for 100% organic fruit and
vegetables. Based in the heart of Provence in a « green » building, ProNatura, a cultivator of supply
chains of 100% organic fruit and vegetables, structures, develops and controls the quality of the farm
products from its network made up of nearly 1,500 organic farms (of which 65% in France). ProNatura
boosts the growth of the organic produce market by offering market agents every day over 300 seasonal
products, including flavoursome ‘forgotten’ varieties, with AB organic, Déméter and Fairtrade certifications.
Bringing a positive image and a strong contribution to shopper traffic, the organic fruit and vegetables of
ProNatura’s networks are approved every day by more and more of the most demanding locavores. With
a regional network of four logistics platforms, two of which are IFS-certified, an in-house top performance
ERP to guarantee freshness and traceability ‘from the soil to the plate’, as well as its own infrastructures in
Togo and Morocco, ProNatura delivers daily to over 1,000 points of sale a total annual volume of 45,000
metric tons. ProNatura, a responsible business which respects biodiversity and people, was awarded the
CSR Grand Prize for Vaucluse ‘département’ at the end of 2013, and embarked on an ISO 26000
evaluation process, aimed at guaranteeing satisfaction for all stakeholders (Farmers, Clients, Employees).
At the beginning of 2014, ProNatura opened its 'shop' in the Paris wholesale market of Rungis to
accelerate sales of its products to restaurants and open-air markets in the Paris region. Also cultivating
talents, ProNatura employs 150 staff and achieved sales of €83 million in 2013 of which 89% in France
and 66% to specialized organic retailers.
Press Contact:
Naxicap Partners
Valérie SAMMUT - Tel : +33 4 72 10 87 99
[email protected]
Justine MASON - Tel : +33 1 58 19 21 83
[email protected]