Electra acquires Diana Ingredients in secondary buyout

Electra Partners Europe has acquired Diana Ingrédients from PAI Partners in a €270 million secondary buyout transaction.

Headquartered is Vannes, France, Diana Ingrédients is a supplier of natural ingredients for the food and pharmaceutical industry. The business had turnover of €161m in 2003 and currently employs 827 staff.

BNP Paribas, the holding company managed by PAI Partners acquired a majority stake in Diana Ingrédients in March 1990. Under the management team led by Olivier Suquet the business has grown rapidly and is present not only in France but also in the US, Latin America, Australia and Eastern Europe.

Jean Ducroux, managing director of Electra Partners Europe, said: “The consumer industry is one which Electra Partners Europe has great expertise. We are very pleased to invest in Diana, which holds leading positions in high growth niche markets. The management team is very high quality and the prospects are extremely positive.”