Through the French company Les Traiteurs Lyonnais, subsidiary of the Panzani Group (www.panzani.fr), Ebro Foods has reached an agreement to buy the Roland Monterrat Group (http://www.roland-monterrat.org/), a French producer of fresh ready-to-serve food.
With a workforce of 390 employees, Roland Monterrat is a major player in the French fresh food segment. It is leader of the “Pâté en croûte” market and one of the top companies in the sandwich and croque-monsieur segment. In 2014 it posted a turnover of €64 million.
Before closing the transaction, valued at €44.25 million (enterprise value, before adjustment for debt), the union representatives at Monterrat must be notified and the acquisition must be approved by the French Anti-Trust Authorities. It is expected to be concluded by the end of September.
A strategic operation
The acquisition of this French business will boost the Ebro Group’s growth in the fresh products segment, where it is already leader of the fresh pasta category through its subsidiary Lustucru Frais.
Through the incorporation of Monterrat, we will achieve further synergies with our French company, raising the Group turnover in the ready-to-serve area by 50% and giving it a foothold for entry into the snack market. As for Monterrat, its incorporation in our Group will enable it to benefit from the “savoir faire” characteristic of Ebro and the Panzani Group, helping it to step up its business development, both in France and throughout Europe.
This deal also paves the way for the Ebro Foods Group to enter very complementary business segments, thus opening up new opportunities for growth.