Bel Group in Talks to Buy GoGosqueeZ Parent MOM Group
The Laughing Cow parent Bel Group is in talks to buy GoGosqueeZ parent MOM Group. Under the proposed deal, the Bel Group would take a majority interest in MOM, with MOM’s current management remaining as a shareholder.
With brands The Laughing Cow, Kiri, Mini Babybel, Leerdammer, and Boursin, Bel offers consumers single-serving cheese portions, today selling its brands in nearly 130 countries.
The MOM Group, majority owned by LBO France since 2010, has achieved business growth in France and the United States. While building on its historical Materne and Mont Blanc brands sold in France, the MOM Group created the fruit squeezers category and developed strong leadership positions with its Pom’Potes and GoGosqueeZ brands in both France and the United States.
Over the past five years, MOM has doubled in size, achieving sales of €362 million in 2015. The company employs 1,300 people and owns four production sites, including two in France and two in the United States.
The deal would enable Bel and MOM to fashion together a major global player in the healthy snacks segment, founded on complementary product ranges and territories. Focusing the teams on a limited number of brands with strong international potential creates a foundation for growth. The French leader five years ago has become an international player and could aim to become a global leader. MOM would have the human resources and the local avenues needed to accelerate its growth, with the new group becoming the flagship French company in the global snack food sector.
The deal will be submitted to both companies’ labor-representation bodies for consultation and to the competent competition authorities for approval. It will also be subject to the usual closing conditions, with a view to completing the transaction by the end of 2016.
The acquisition would be financed by Bel’s own financial resources and by issuing additional debt without undermining Bel’s financial health.
The Bel Group was advised by Messier Maris & Associs in M&A and by Cleary Gottlieb in legal affairs.
MOM and its management were advised by Sycomore Corporate Finance in M&A and by Opleo Avocats in legal affairs.
LBO France was advised by Mayer Brown in legal affairs.
With brands The Laughing Cow, Kiri, Mini Babybel, Leerdammer, and Boursin, Bel offers consumers single-serving cheese portions, today selling its brands in nearly 130 countries.
The MOM Group, majority owned by LBO France since 2010, has achieved business growth in France and the United States. While building on its historical Materne and Mont Blanc brands sold in France, the MOM Group created the fruit squeezers category and developed strong leadership positions with its Pom’Potes and GoGosqueeZ brands in both France and the United States.
Over the past five years, MOM has doubled in size, achieving sales of €362 million in 2015. The company employs 1,300 people and owns four production sites, including two in France and two in the United States.
The deal would enable Bel and MOM to fashion together a major global player in the healthy snacks segment, founded on complementary product ranges and territories. Focusing the teams on a limited number of brands with strong international potential creates a foundation for growth. The French leader five years ago has become an international player and could aim to become a global leader. MOM would have the human resources and the local avenues needed to accelerate its growth, with the new group becoming the flagship French company in the global snack food sector.
The deal will be submitted to both companies’ labor-representation bodies for consultation and to the competent competition authorities for approval. It will also be subject to the usual closing conditions, with a view to completing the transaction by the end of 2016.
The acquisition would be financed by Bel’s own financial resources and by issuing additional debt without undermining Bel’s financial health.
The Bel Group was advised by Messier Maris & Associs in M&A and by Cleary Gottlieb in legal affairs.
MOM and its management were advised by Sycomore Corporate Finance in M&A and by Opleo Avocats in legal affairs.
LBO France was advised by Mayer Brown in legal affairs.