Sale of HARi&CO to Groupe Avril

DATE
July 2023

TRANSACTION TYPE

Strategic acquisition

VALUE
Not disclosed

SECTOR
Food & Beverage

Spayne Lindsay is delighted to announce that it has advised the shareholders of HARi&CO, a 100% plant-based food and ready meals producer, on the sale of a majority stake in the business to Groupe Avril, a leader in the vegetable oil and protein sector in France.

Founded in 2014 by two agricultural engineers, HARi&CO is a mission-driven company committed to leading the food transition toward plant-based protein with gourmet, healthy and innovative products. All of HARi&CO’s products are based around pulses (lentils, chickpeas and beans) and are organic, clean-label, additive free and 100% plant based. With more than 35 employees, HARi&CO is present in mass distribution in more than 5,000 stores, including the collective catering sector.

Emmanuel Brehier and Benoît Plisson, founders of HARi&CO, commented: “We are very enthusiastic about this new step taken by HARi&CO. We share common commitments with Avril, which will allow us to develop HARi&CO while remaining true to our values. This operation is a real boost to our ambition to become the key player in plant-based cuisine. We are more than ever invested in this new stage of our entrepreneurial adventure, which promises to be exciting!”

Jean-Philippe Puig, CEO of Avril, commented: “This project is fully in line with our strategy. Following the acquisition of Vivien Paille last year, we are pursuing the development of French sectors and the promotion of legumes, from the farm to the table. In this way, we contribute to a local, healthy, and sustainable diet in line with our commitments and our purpose: Serving the Earth.”