L’Angélys secures investment from Bpifrance and Unigrains
L’Angélys, a manufacturer of high-quality ice creams and sorbets, made with fresh, healthy ingredients and without preservatives or additives, has secured investment from Bpifrance and Unigrains.
Bpifrance and Unigrains have acquired a minority stake to support the company’s growth momentum. Bpifrance has also provided bank financing alongside Banque Tarneaud and LCL.
Created in 1996 by Denis Lavaud, and based in Fontcouverte, France, L’Angélys has sales of roughly €M 10, strong growth, and employs 40 collaborators. Benefiting from the “Maître Artisan Glacier” label, L’Angélys products are available at over 16 000 points of sale and referenced by most French national distributors. L’Angélys is established on an efficient and flexible 1 400m² facility, capable of producing a diversified range.
Innovation, a key aspect of the group, enables L’Agélys products to stand out through the development of innovative recipes incorporating high quality ingredients. New ranges, new flavors and frozen festive products are launched every year. Smoked salmon and pan-fried foie gras ice creams hit the shelves last Christmas. Additionally, adapting to new consumer trends, L’Angélys launched an organic range and artisanal cones in April 2020. L’Angélys products are regularly voted flavours of the year.
With the support of Bpifrance and Unigrains, L’Angélys aims to expand to reach a new BtoC clientele through the development of proprietary and franchised shops. A first store is expected to open in spring 2021 near Royan.
While Denis Lavaud will continue to run the company, this transaction initiates a family transmission, bringing his two daughters, already operational in the company, into the capital. Other executives are also expected to join the capital in order to support the family and anchor the company in the region.
Lavaud, Founder of L’Angélys, says: “My daughters and I are very happy with this partnership, which is in line with our development for several years. These new projects are made possible through our collaboration with Unigrains and Bpifrance, who share our values, quality approach, and the promotion of French savoir-faire. It represents a new phase for the future growth of our company and a strong message to all our employees and partners.”
Jérôme Langlade, Investment Director with Bpifrance, says: “We are proud to support Denis Lavaud in this important new step for a great family business. We are also delighted to prepare the family transmission with the arrival of Angélique and Sarah in the capital. We will mobilize all of Bpifrance’s expertise in service of L’Angélys to support and accelerate its growth.”
Nicolas Mulle, Investment Manager with Unigrains, says: “We’ve known Denis Lavaud for several years and have seen the remarkable work accomplished by L’Angélys to develop a range of healthy, artisanal ice creams without preservatives or additives for consumers. Unigrains is proud to participate in the ambitious growth program in France and through exports as well as to support the company through its expertise in consumer food trends and the evolution of distribution models.”