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Groupe Caravelle to acquire equity stake in Naturex

By Caroline Scott-Thomas , 10-Dec-2012

Caravelle to acquire Naturex stake
Caravelle to acquire Naturex stake

French industrial business Groupe Caravelle has said it intends to acquire an equity stake in Naturex, following Spanish group Natraceutical’s sale of its 15.35% stake in the company earlier this month.

Groupe Caravelle has a diversified industrial presence, including in the pharmaceutical, industrial bodywork, mechanical and hotel sectors. It plans to take on Natraceutical’s share of Naturex, which includes share capital as well as 8.27% of voting rights.

A Natraceutical-Naturex merger two years ago gave the Spanish company a 38% stake in the business, after Naturex had acquired its ingredients division, allowing it to double in size. Since 2011, Natraceutical has progressively withdrawn its capital from Naturex and has significantly loosened business ties in recent months.

“This friendly acquisition fits within the development strategy of Caravelle that has clearly demonstrated its wish to participate in pursuing the development projects of Naturex Group in line with latter's strategy over the last 20 years,” Caravelle said in a statement.

Naturex chairman and CEO Thierry Lambert said: "We welcome Caravelle Group's addition as a shareholder and will propose that Ms. Hélène Martel-Massignac, Caravelle's Chief Executive Officer, be appointed as a new member of Naturex's Board of Directors. This proposed nomination will be submitted to a vote at the next Shareholders Meeting."

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