News

Bel gets 65% of MOM

26 Oct 2016

The Bel Group is to acquire a majority 65% shareholding in the MOM Group from LBO France in a deal valuing MOM at €850 million. MOM’s management will hold the remaining 35% of ordinary shares.

The Bel Group is to acquire a majority 65% shareholding in the MOM Group from LBO France in a deal valuing MOM at €850 million. MOM’s management will hold the remaining 35% of ordinary shares. Michel Larroche will continue as MOM’s CEO.

The MOM Group, majority owned by LBO France since 2010, is said to have achieved unrivalled business growth in France and the United States. While building on its historical Materne and Mont Blanc brands sold in France, the MOM Group created the fruit squeezers category and developed strong leadership positions with its Pom’Potes brand in France and its GoGo squeeZ brand in the United States. Over the past five years, MOM has doubled in size, achieving sales of €362 million in 2015. The company employs 1,300 people and owns four production sites, including two in France and two in the United States.

The transaction will enable Bel to create a major global player in the healthy snacks segment, the company said, claiming that it provides a unique opportunity for MOM to accelerate its growth supported by Bel’s international presence. Both companies plan to harness the complementarity of their product ranges, territories and industrial knowhow to establish their leadership internationally.

Completion of the deal remains subject to the approval of French and U.S. competition authorities, who are expected to rule by the end of the year.

“I’m delighted that we have achieved this new step,” said Antoine Fiévet, Chairman and Chief Executive Officer. “This transaction alongside the MOM Group managers represents a historical opportunity for Bel to assert its leadership as a major player in the healthy snacks segment, in line with the directions that we have set for the coming years. At MOM, as at Bel, the strategic relevance of the deal and the range of growth opportunities it creates are clear to everyone. We are all very eager to begin our collaboration and to launch this new growth phase, which is very exciting for all the teams.”

“For MOM, this partnership with Bel offers a unique opportunity to accelerate the growth of our healthy, fruit and dairy snack brands by leaning on the Bel Group’s extraordinary international reach,” said Michel Larroche, MOM Group CEO. “Our partnership with Bel will help create a global, healthy snack-food company that is uniquely positioned and supported by strong brands. I thank and applaud LBO France, as well as the MOM Group employees who helped double our company’s size over the past five years and helped build strong brands, notably in France and the United States. I am pleased to have the opportunity to further accelerate our growth in partnership with Bel’s teams.”

“LBO France is pleased to see the conclusion of this acquisition, which crowns the impeccable career of a company striking out to conquer international markets,” said Robert Daussun, LBO France CEO. “The remarkable success achieved in the U.S. is only a step on MOM’s way to becoming a world leader. At the dawn of this future growth phase, we are particularly pleased to be passing the baton to the Bel Group. With this partnership, MOM will find the natural commercial resources to accelerate its growth, and Bel will definitively be able to assert its ambition as a global player in healthy snacks. LBO France is proud of its contribution to strengthening the French food industry’s international position and reputation for excellence and performance.”