Target Information

FNB Private Equity has successfully acquired the potato puree operations in France and for export of Nestlé, marketed under the brand Mousline®. Mousline, which has been a staple in the French market for nearly 60 years, operates from a dedicated production site located in Rosières-en-Santerre, an area known for its potato cultivation. The company employs around 150 staff members at this facility, with an additional 50 support and management personnel.

With an annual turnover of approximately €80 million, Mousline generates 25% of its revenue from exports to countries including Germany, Spain, and the Netherlands. As of 2023, Mousline proudly holds a 72% market share in France, underscoring its strong position in the sector.

Industry Overview in France

The French agro-food industry is known for its robustness and diversity, playing a crucial role in both domestic and international markets. With a strong emphasis on quality and sustainability, French food products are highly regarded across Europe, particularly in sectors like dairy, meat, and processed foods. As consumer preferences shift towards healthier and locally sourced options, the industry has adapted to maintain its competitive edge.

In recent years, there has been a noticeable trend of consolidation within the sector, as companies seek to enhance operational efficiencies and broaden their market presence. This trend aligns with the increasing demand for innovative products that cater to evolving consumer needs, including organic and plant-based offerings.

Furthermore, the French government has implemented various support measures aimed at fostering growth and innovation in the agro-food sector. These initiatives not only enhance the industry's resilience but also attract foreign investments, facilitating the entry of international players into the market.

In this context, Mousline's strategic acquisition offers an opportunity to rejuvenate a storied brand while capitalizing on market trends. The emphasis on sustainability and local sourcing perfectly positions Mousline as a modern brand that resonates with contemporary consumer values.

The Rationale Behind the Deal

FNB's acquisition of Mousline aligns with its long-term strategy of growth and brand diversification. This acquisition represents the 12th investment made by FNB Private Equity through its FNB Europe Fund 1. The strategic partnership with Turenne Groupe and Swen Capital Partners further strengthens the financial backing and operational expertise available to Mousline, paving the way for accelerated growth and innovation.

The integration of new financial resources and strategic support is expected to transform Mousline's operational approach, enabling it to achieve ambitious growth goals while enhancing its innovative capacity. This collaboration aims to secure long-term benefits for the brand, its employees, and its stakeholders.

Investor Information

FNB Private Equity is a major stakeholder focusing on small and medium-sized enterprises (SMEs) that produce and market food products. The firm specializes in supporting businesses during transitions, changes in governance, or capital operations. The team at FNB is comprised of experienced professionals from the agro-food industry, bringing valuable insights and expertise to their portfolio companies.

With a commitment to enhancing the economic, social, and environmental impact of its portfolio, FNB Private Equity is dedicated to fostering growth in the agro-food sector. The firm was recognized as a

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