Materne-Mont Blanc, a provider of fruit purees and dessert creams sold at ambient temperature in supermarket food departments, backed by LBO France since 2010, has successfully completed a seven year EUR230 million refinancing.
Pom’Potes is the group’s flagship brand for fruit purees sold in pouches, with a leading position among children in the snack segment. The brand developed a first mover advantage in the US, under the name GoGoSqueez.
BNP Paribas acted as Mandated Lead Arranger and Bookrunner of the new EUR230 million tranche B senior financing. The structure includes an additional EUR10 million revolving credit facility as well as a EUR40 million capex line.
The financing, which closed on 21 April 2015, was oversubscribed. As a consequence, it has been priced at par with a 4.25% margin over euribor, which is a record low on the European market since the beginning of the year.
LBO France has partially realised its investment as part of the refinancing through a dividend recap. Materne-Mont Blanc saw sales of roughly EUR350 million in 2014.
