Baar-Zug, 26 June 2014
Partners Group, the global private markets investment manager, acts as mandated lead arranger, on behalf of its clients, for the junior debt financing of French premium food producer Labeyrie Fine Foods in the acquisition of a joint-control stake by PAI Partners alongside the company's parent Lur Berri. The financing is subject to closing conditions and is expected to close in the coming weeks.
Founded over 50 years ago, Labeyrie is a leading European food producer focused on gourmet foods including smoked salmon and fish, prawns and shellfish as well as gastronomic specialties and convenience food. Labeyrie has been a household name for French consumers for decades, is a market leader in the UK and also enjoys longstanding relationships with some of the largest food retailers in Europe. The credit quality is reinforced by the company's strong brand and its geographical diversification with customers in more than 40 countries. This allowed Labeyrie to perform strongly and to remain unscathed during the financial crisis.
Juri Jenkner, Partner and Co-Head Private Debt, says: “This transaction is a great example of Partners Group's strategy of tailoring long-term debt financing for strong partners and proven business models in resilient industries globally. We are delighted to support Labeyrie in its next phase of growth. The transaction also reinforces our view that attractive 'pockets of opportunity' continue to exist across all debt instruments for a private markets lender like us, which has a strong, global platform as well as a local presence in markets like France.”