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Ardian buys minority stake in French frozen snack maker Piz’wich

FBR Staff Writer Published 09 January 2017

Private equity firm Ardian has acquired a minority stake in French takeaway frozen snack manufacturer Piz’wich for an undisclosed sum.

The percentage of stake bought by Ardian was also not revealed by either of the parties.

Piz’wich is expected to take advantage of its new investor’s existing network to grow globally besides using the investment to develop its product range.

Established in 2001, Piz’wich is based at Bulgnéville near Nancy and was acquired by Stéphane Delahaye in 2011. The company earned sales revenue of nearly €14m last year.

Ardian Growth senior investment manager Frédéric Quéru said: “This is exactly the type of partnership Ardian looks for. We are looking forward to working with Piz’wich and supporting Stéphane with our international experience and expertise in hyper-growth strategies.

“Stéphane Delahaye’s dynamic approach makes this a very appealing project and we wish to provide him with the necessary means to implement his ambitious strategy.”

Piz’wich manufactures savoury snack products in the frozen category for hypermarkets and supermarkets, airline catering, food services and hard discounters.

Piz’wich president Stéphane Delahaye said: “After experiencing very strong growth since 2012, we launched several product ranges and established partnerships with a number of retailers.

"We now wish to accelerate our international development, particularly in Germany, Italy, Spain, Benelux, the US and Canada, and strengthen our relationships with our local partners and distributors."

Delahaye concluded that Ardian was a logical partner for the next phase of business for Piz’wich, owing to its capacity to support in such key markets as well as its suitability helping with its strategic challenges.

Piz’wich is the fifth investment in the last 12 months for Ardian Growth following its investments in TimeOne and JeChange, Bricoprivé and HR Path.