LBO France acquired Materne-Mont Blanc in 2010 for around 180 million euros, backed with a 95 million euro leveraged loan financing, according to Thomson Reuters LPC data.
The buyout was backed with around 110 million euros in equity and as part of the latest refinancing LBO France has recouped 60 percent of its equity investment, via a 65 million euro dividend payment, banking sources said.
BNP Paribas led the 280 million euro financing, which comprised a 230 million euro term loan B, paying an interest margin of 425 basis points over Euribor at par; as well as a 40 million euro capital expenditure facility and a 10 million euro revolving credit facility, the announcement said.
Materne-Mont Blanc had sales of around 350 million euros in 2014. It has grown EBITDA to about 50 million euros from 20 million euros in 2010.
Pom’Potes is the group’s flagship brand for fruit purees sold in pouches. The company operates under the name GoGoSqueez in the United States.
($1 = 0.9326 euros)
(Editing by Christopher Mangham)