Information on the Target

Pastacorp, a historic player in the transformation of durum wheat and the parent company of Lustucru, is embarking on a new chapter in its entrepreneurial journey. Following a structured family transition, Antony and Bernard Cohen-Skalli have become the majority shareholders of the Group, supported by GENEO Capital Entrepreneur through its GENEO Mezzanine fund, along with long-term co-investors SOCADIF and C2AD.

This operation facilitates the reorganization of the company's capital around operational management, ensures the preservation of the company’s family heritage, and supports the execution of an ambitious industrial project centered on value creation, innovation, sustainable performance, and territorial impact.

Industry Overview in France

The food industry in France is characterized by significant diversity, and the pasta sector, in particular, has seen continued growth as consumers show increasing interest in high-quality, responsible food options. As the second-largest producer of pasta in France, Pastacorp has a strong foothold across various complementary and growing market segments, including dry pasta, fresh pasta, couscous, semolina, gnocchi, and quenelles.

With an integrated industrial organization that includes a mill and three production sites located entirely in France, Pastacorp processes over 110,000 tons of French durum wheat annually. The company's balanced presence across national brands, private labels, food service, B2B, and ethnic markets reflects a robust, diversified model deeply rooted in the French agricultural value chain.

Pastacorp has already initiated several tangible actions, such as introducing innovative 100% paper packaging for its Lustucru range in large retail (Nutriscore A), launching an industrial modernization plan aimed at improving material yields, and executing a logistics trajectory aligned with emission reduction targets. The company currently employs 400 staff exclusively in France across four sites and holds a 10% share of the pasta market in the prevailing retail sector while commanding 30% of the couscous market within France.

This momentum highlights Pastacorp's strategic positioning to capitalize on the growing trend toward sustainable and locally sourced food products, which resonates with the consumer appetite for quality and environmental responsibility.

The Rationale Behind the Deal

The rationale for this deal encompasses a significant transition phase for Pastacorp, marked by the consolidation of the industrial project with a focus on long-term stability. It allows the company to remain true to its mission of producing quality food sustainably while fostering innovative practices rooted in local expertise. The partnership with GENEO Capital Entrepreneur is particularly valuable due to its commitment to supporting family-run businesses that prioritize territorial integrity and impactful innovation.

Information about the Investor

GENEO Mezzanine, part of GENEO Capital Entrepreneur, specializes in providing positive financing solutions for entrepreneurs. Its flexible investment approach utilizes hybrid instruments that align with impact objectives, allowing for tailored support to facilitate the long-term transformation of SMEs and mid-sized enterprises in France. Furthermore, GENEO Capital Entrepreneur manages nearly 740 million euros, focusing on revealing the true potential of businesses through dedicated assistance and a comprehensive network of experienced partners.

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This transition marked by the collaboration with GENEO, SOCADIF, and C2AD signifies a well-thought-out investment strategy that supports Pastacorp in its ambition toward sustainable and responsible food production. The focus on enhancing operational performance while maintaining a commitment to innovation and environmental considerations aligns with contemporary market demands, indicating a forward-looking approach that positions the business effectively for future growth.

The investment appears promising, considering the company's established market presence, the growing consumer demand for quality food products, and their proactive initiatives to reduce their ecological footprint. Given the robust performance of Pastacorp within the diverse French food landscape, this deal presents a strategic opportunity for investors seeking to support sustainable operational models.

Moreover, with the emphasis on training and local employment generation through the establishment of an industrial school, this approach underscores the company’s commitment to nourishing not only its operational capacity but also its community, thereby enhancing both social impact and brand loyalty. Overall, this partnership promises to foster significant advancements in the food industry while reinforcing the values of sustainability and local integration.

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