FRANCE : CM-CIC Capital Finance takes control of Routin syrup producer
Investment firm CM-CIC Capital Finance and French businessman Olivier Lecoeur have taken a controlling stake in French family-owned syrups producer Routin.
The deal, announced today (3 July), will see Lecoeur take up the post of president at Routin. Financial details behind the move were not disclosed, nor was the size of the majority stake.
The Clochet family, which will retain a minority stake, has headed Routin for over 50 years. The company, which had annual sales of EUR57m (US$71.7m) in its latest fiscal year, is France's second biggest syrup producer behind Teisseire. The company's portfolio also includes regional beer brands as well as other alcoholic beverages.
Patrick Mispolet, the former head of Orangina France-Belgium, will also join Routin, along with former managers of the Orangina Schweppes group.
Lecoeur has previously worked for Kraft Foods, Ferrero France, Campbell's Soups and Hero France.
Sectors: Mergers & acquisitions
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