Bel Group and MOM management team to acquire MOM Group from LBO France
French company Bel Group and the MOM Group’s management team have signed an agreement with LBO France to acquire the MOM Group.
According to this agreement, Bel will become a majority shareholder of the MOM Group with 65% of the ordinary shares, while MOM’s management will hold the remaining 35%.
Michel Larroche will continue to serve as MOM CEO.
LBO France has owned a majority stake in the MOM Group since 2010. In the last six years, the latter has seen business growth in France and the US.
In addition to building on its regular Materne and Mont Blanc brands sold in France, the MOM Group also developed Pom’Potes brand in France in the fruit squeezers category, as well as the GoGo squeeZ brand in the US.
In the last five years, MOM has grown double in size, posting sales of €362m last year.
It employs 1,300 people, and operates two production facilities in France and the US.
This deal will enable MOM to expedite its growth supported by Bel’s international presence, while the latter will be able to create a major company in the healthy snacks market.Subject to approval from US and French competition authorities, the deal takes the value of the MOM Group to €850m.
Bel Group chairman and CEO Antoine Fiévet said: “I’m delighted that we have achieved this new step. This transaction alongside the MOM Group managers represents a historical opportunity for Bel to assert its leadership as a major player in the healthy snacks segment, in line with the directions that we have set for the coming years.
“At MOM, as at Bel, the strategic relevance of the deal and the range of growth opportunities it creates are clear to everyone.”
MOM Group CEO Michel Larroche said: “For MOM, this partnership with Bel offers a unique opportunity to accelerate the growth of our healthy, fruit and dairy snack brands by leaning on the Bel Group’s extraordinary international reach.
“Our partnership with Bel will help create a global, healthy snack food company that is uniquely positioned and supported by strong brands.”
The regulatory authorities of the two countries are expected to rule by the end of the year.