SUBSCRIBE

Breaking News on Supplements, Health & Nutrition - Europe US edition | APAC edition

News > Suppliers

Read more breaking news

 

 

Cognetas talks with AXA over Diana sale

By Jess Halliday , 29-May-2007

Negotiations are underway between private-equity groups over the sale of French natural ingredients firm Diana-Ingredients, indicating a positive view of the company's potential in the marketplace.

The Vannes-based firm was acquired by Cognetas (then Electra Partners Europe) in 2004 in a leveraged buy-out worth €240m. It is usual practice for private-equity firms to review their strategic progress every few years, and the possible sale underscores their continued interest in the food sector. Diana CEO Olivier Suquet confirmed to FoodNavigator.com that AXA Private Equity has entered into a period of exclusive negotiation, but he was not able to give details on when a sale may be completed. "This offer by AXA has to be submitted to anti-trust authorities and Cognetas shareholders," he said. Under French law union representatives must also be kept abreast of negotiations. Suquet would not comment on the value of the acquisition. However French newspaper La Tribune reported last week a value in excess of €700m, and The Financial Times predicted Friday that the sale will be confirmed within the week. Suquet said that the sale Diana Ingredients will not change day-to-day running of the company at all. AXA Private Equity representatives were not available for comment. AXA's approach to buy-outs involves investment in profitable high-potential companies, with a view to bolstering growth and earnings in new markets. It identifies companies that are presently high-performing, "or with potential to be so in the near future". Diana Ingredients has three divisions: Diana Naturals (natural ingredients), Cap Diana (culinary ingredients) and SPF (pet food ingredients). Amongst the product offerings for the food industry from Diana Naturals are natural colourings, dehydrated and natural fruit and veg extracts, nutraceuticals and wine extracts. The company reported sales of €233m in 2005, the latest year for which financial results are available, and EBIT at 15 per cent of turnover. Sales growth over 2004 was 20 per cent.

Live Supplier Webinars

Polyphenols tipped to become the way to innovate in Sports Nutrition
Fytexia
Orally bioavailable standardized botanical derivatives in sport nutrition: special focus on recovery in post-intense physical activities
Indena
Collagen in motion: move freely and keep your injuries in check
Leading manufacturer of gelatine and collagen peptides
Life’s too short for slow proteins. Whey proteins hydrolysates: Fast delivery for enhanced performance
Arla Foods Ingredients
What it Takes to Compete and Win in Today’s Sports Nutrition Market
Capsugel
Sports Nutrition Snapshot: Key regional drivers and delivery format innovations
William Reed Business Media
Gutsy performance: How can microbiome modulation help athletes and weekend warriors
William Reed Business Media
Pushing the boundaries: Where’s the line between ‘cutting edge nutrition’ and doping
William Reed Business Media
Alpha & Omega in Sports Nutrition – Using Omega 3’s and A-GPC to improve performance and recovery.
KD Pharma

On demand Supplier Webinars

High-amylose maize starch may reduce the risk of type 2 diabetes: what does this qualified health claim mean?
Ingredion
Balancing Innovation and Risk in Sports Nutrition Ingredients
NSF-International
Explaining bio-hacking: is there a marketing opportunity for food companies?
William Reed Business Media
Personalized Nutrition – how an industry can take part in shaping the future of Nutrition
BASF Nutrition & Health
Find out Nutritional and ingredient lifecycle solutions and strategies!
Roquette
Is the time rIpe for I-nutrition?
William Reed Business Media
The Advantage of Outsourcing Fermentation-based Manufacturing Processes
Evonik Health Care
All supplier webinars