Louis Francois Acquired by Novax
Louis Francois Acquired by Novax
Transaction
Overview
Spayne Lindsay & Co. is delighted to announce that it has advised Novax Ingredients (“Novax”) on its strategic partnership with Louis François in premium gourmet pastry ingredients. This strategic partnership consists of the transfer by Louis François of a majority stake in the business to Novax with Louis François’ shareholder Jean-Claude François reinvesting into the jointly-owned Novax Ingredients group entity which encompasses Louis François and UK clean-label ingredient specialist Ulrick & Short.
Founded by Mr. Louis François in 1908, Louis François is a family-owned French developer of specialty, functional ingredients for gourmet pastry, chocolate, confectionaries and ice-cream premium artisans, culinary experts and food manufacturers. Louis François offers a portfolio of 300+ functional products, serving a diversified client portfolio worldwide composed of artisans, chefs and food producers. The company currently operates 2 sites in France (Croissy-Beaubourg and Jouy-sur-Morin), employing about 30 people.
Novax, a long-term investor and operating partner, is pleased to offer its commitment to together with the team build and expand Louis François over the years to come. Since Novax’ entry into specialty ingredients, marked by the inception of Novax Ingredients, they have been careful and selective in partnering with independent niche leaders with unique, competitive positions. Novax Ingredients is focused on developing clean, functional & sustainable ingredient solutions for the food industry, helping manufacturers solve process & development challenges through product reformulation – be it within improving nutritional profiles or enhancing overall product quality.
Both Novax and Louis François see great mutual potential in collaborating – both companies are niche market leaders with specializations that complement another. Novax will further develop the Louis François brand in full respect of its heritage as prime supplier to the gastronomic sector, premium chefs and artisans.
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