Private equity (PE) firm One Rock Capital Partners LLC has entered an agreement for an affiliate to acquire Paris-based Europe Snacks, a leading private label manufacturer of savory snacks for the European market.
Financial terms of the deal, announced Sept. 11, weren’t disclosed. Europe Snacks provides stacked chips, snacks, crisps and crackers to major food retailers throughout Europe, and is a trusted co-manufacturing partner to international brands in the region. The company operates seven production facilities across the UK, France and Spain.
“Over the past three decades, Europe Snacks has grown to be a leader in the private label market across its key product categories and geographies,” said Kurt Beyer, Partner at One Rock. “We are excited to partner with the team, to build upon their strong heritage and to continue driving growth.”
“Europe Snacks aligns well with our investment strategy of acquiring leading companies with potential for growth and improvement,” said Lukas Zeitlberger, principal at One Rock Capital. “We look forward to working closely with management to enhance the company’s operations and capitalize on new market opportunities.”
In food and beverages, One Rock Capital’s portfolio includes BlueTriton Brands, a carve-out of Nestle offering spring and purified water in North America under such brands as Poland Spring, Deer Park, Ozarka, Pure Life, Splash, Zephyrhills and Saratoga, as well as OLM Food Solutions, a manufacturer and distributor of pizza and ingredients for franchised foodservice at North American convenience stores.
Étienne Lecomte, CEO of Europe Snacks, commented, “We are looking forward to joining forces with One Rock as we enter our next phase of growth. One Rock’s Operating Partners bring decades of expertise in our core markets and we will look to leverage their knowledge and experience as we aim to bring even more innovation and value to our customers.”
Spayne Lindsay & Co. and Natixis Partners acted as M&A advisors to One Rock. Latham & Watkins LLP served as legal counsel. Debt financing was provided by Barclays, Natixis, Rabobank, RBI, Santander and Goldman Sachs.
