Charles & Alice kicks off sale process

Equistone-owned Charles & Alice, a fruit-dessert specialist, has kicked off a sale process via informal talks with potential bidders, according to market sources. Natixis Partners is advising on the sale, sources said.

The company is marketed off EBITDA of roughly €15 million-€17 million, sources added.

Equistone bought the company in 2013. At the time of the acquisition, Charles & Alice also raised a financing from CIC Mezzanine, alongside its pool of traditional bank lenders.

Headquartered in southeast France, Charles & Alice employs more than 420 people across two production sites. It generates turnover of roughly €165 million.

The company distributes its products in supermarkets but also in institutions such as schools and nursing homes.

The parties involved did not comment.

The Charles & Alice brand was launched in 2011 as a result of the merger of Hero France, a manufacturer of fruit purées and baby food, and Charles Faraud, a fruit and vegetable-based convenience food specialist. Charles Faraud was bought out by CM-CIC in 2007 through a management buy-in led by the CEO of Charles & Alice, Thierry Goubault. Charles Faraud subsequently acquired Hero France in 2010.