KKR is co-investing with Bpifrance and Crédit Agricole Group for a total consideration of €440m
Paris, 9 December, 2021 – KKR, a leading global investment firm, announces today that KKR has acquired a significant minority stake in Malteries Soufflet, a leading producer in the malt industry. KKR, Bpifrance and Crédit Agricole Group will collectively invest €440m in the malt business, which is a division of Soufflet Group. Soufflet Group has recently been acquired by InVivo, a leading French agricultural and agri-food business, with InVivo welcoming the three investment partners as they look to accelerate the growth of Malteries Soufflet and strengthen its globally leading position.
Malteries Soufflet is one of the leading global malt producers, employing 1,200 people, spread over four continents, with 28 production plants and an annual production of 2.4m tons. Malteries Soufflet has significant capacity to supply malting-quality barley through its international footprint, and is well positioned to capture growing demand in the underlying market from both international brewers, as well as the growing craft beers market.
Thierry Blandinières, CEO of InVivo Group, commented: “We were looking for a dynamic strategic partner capable of supporting our global growth plans with the acquisition of Soufflet while simultaneously assessing the international growth potential of our malt division. KKR, along with Bpifrance and Crédit Agricole Group, worked with us to find the right solution to help strengthen our malt division for years to come, in France and internationally.”
Jérôme Nommé, Partner and Head of France at KKR, said: “Malteries Soufflet is a world class business with the potential to significantly strengthen its position under the expert leadership of Thierry Blandinières and his team at InVivo. We are delighted to work with InVivo alongside other highly respected investors, and look forward to supporting InVivo in growing and developing the malt division to help it meet its exciting growth ambitions.”
Blaine MacDougald, Partner and Co-Head of KKR’s Strategic Investments Group, added: “Our ability to offer capital solutions to companies which are complementary to our traditional private equity business gives us additional ways to partner with management, while still enabling them to benefit from the full suite of KKR resources. This structured equity investment demonstrates the flexibility of the KKR platform to work closely with companies on supporting their future growth needs.”
KKR’s diversified and multi-asset investment platform provides KKR with the flexibility to support ambitious companies with a suite of comprehensive, bespoke capital solutions, further enhanced by its global experience and operational capabilities. In France, this model along with KKR’s strategic partnership approach, strong local presence and large global platform, enables companies to grow and globalize. KKR is a long-term investor in France, where the firm has invested over €10 billion since 2002, forming strategic partnerships with a number of leading French businesses including Devoteam, Mediawan, OVHcloud, among others. KKR invests in Malteries Soufflet from its managed funds.
About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About InVivo
InVivo Group, which finalized the acquisition of Soufflet Group in December 2021, is one of Europe’s leading agricultural groups with revenues of nearly €10 billion, with more than half of which generated in France, and a workforce of more than 13,000 employees, including more than 10,000 in France. With operations in 35 countries, it has more than 90 industrial sites, including 63 in France.
A cornerstone of food sovereignty, InVivo operates across the entire value chain, from farm to fork, and is a leader in each of its strategic businesses: Agriculture; Malting (“Malteries Soufflet”); Milling, ingredients, bakery and pastry; Garden center and food retail; International grain trade; Wine. A global cross-functional centre for innovative and digital solutions completes the structure, in order to accelerate the transformation of InVivo’s businesses.
For more information: invivo-group.com / Twitter @InVivoGroup
Media Contacts
KKR France:
Finsbury Glover Hering
Nathalie Falco
Telephone: +33 6 30 64 90 15
Email: nathalie.falco@fgh.com
