3i private equity

Portfolio

Senoble

Senoble

Sector Consumer
Investment type Growth Capital
Region France
Status Former investment

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Senoble, French family-owned business founded in 1921, is a leading European manufacturer and supplier of fresh dairy desserts for mass retailers.

Senoble is ranked as France's third-largest manufacturer of dairy products and desserts. Its range of 750 products also includes its own Senoble-branded desserts and low calorie yoghurts and desserts under the Weight Watchers brand.

The group is the market leader in private label dairy products in France and Spain. Customers include Carrefour, E Leclerc, Auchan, Lidl, Aldi, Tesco and Mercadona.

In March 2004 Senoble Group has invited 3i to take a 25% stake in its capital in order to finance future growth opportunities,

In March 2008, the Senoble family have bought back 3i’s stake and will now regain 100% ownership of the business, which has doubled in size during 3i’s involvement over the past four years

- Turnover almost doubled from €630 million to over €1.1 billion

- International business increased from 25% to 55% of total sales

- Four acquisitions made outside of France, notably that of UK-based Elisabeth The Chef

- Number of industrial manufacturing sites doubled from 6 to 12 (5 in France, 3 in the UK, 1 in Spain, 1 in Italy and 2 in Slovakia)