Hivest Capital Partners supports Réunimer – Pêcherie du Sud in its new growth chapter

Hivest Capital Partners S.A.S. (« Hivest Capital »), an independent European private equity firm, has acquired a majority stake in the Réunimer– Pêcherie du Sud group, French leader in seafood products in the Indian Ocean, from its founders and historical shareholders.

Founded in 1996 in Réunion, the Réunimer – Pêcherie du Sud group quickly grew through both organic and external growth and established a presence on the neighboring island of Madagascar in 2000.

The group is positioned across the entire value chain. It has developed activities in fishing, aquaculture, primary and secondary processing in its local factories, as well as export and distribution capabilities to the French and international markets. The group offers a wide range of complementary products (toothfish, octopus, shrimp, seaweed, pelagic and bottom fish), sold in various forms (raw, cut, frozen, fresh, processed). Its customer base is evenly distributed between mass retail, foodservice, industrial clients and local authorities.

With a turnover of €70 million, steadily increasing in recent years, the group owns around 30 ships and operates 7 processing plants.

The group is strongly committed to responsible and sustainable seafood practices: it has received the stringent MSC certification, which guarantees sustainable fishing, as well as the French government « Sustainable Fishing » ecolabel. Additionally, it has established several partnerships with NGOs, universities, scientific organizations, and local associations.

In a seafood market growing by 5% per year, the group sought to partner with a leading financial partner to support the next stages of its development. With this goal in mind Hivest Capital has taken a majority share in the company, facilitating a transition between the group’s leadership generations and increasing the ownership stakes of both current and future leaders. Governance will remain based in Réunion, where the group operates.

Hivest Capital will provide the group with all the resources it needs to accelerate its development, particularly in its CSR policy and the ongoing enhancement of its ESG commitments. Hivest Capital, along with the group’s management team, also shares the common goal of strengthening the group’s position both in its traditional markets and internationally, including through external growth operations.

Sébastien Camus and Olivier Méraud, respectively President and General Manager of the group Réunimer – Pêcherie du Sud, commented: “We wanted our new partner to support our development while also aligning with our goal of creating local value and acting as responsible player in the fishing industry, committed to ecological practices both at sea and on land. These were the criteria on which we chose Hivest Capital, and we are excited to embark on this new journey together.”

Roland Hillion, Hivest Capital, added: “We thank the shareholders and the management team for their trust and are thrilled to support the group in its new stage of development. We share a common ambition to become a global and responsible leader in high-value-added seafood products, while deepening the group’s ESG commitment and implementing an ambitious external growth strategy.”

About Réunimer – Pêcherie du Sud

Based in Réunion, the Réunimer – Pêcherie du Sud group is specialized in all high-value-added seafood sectors, covering the entire value chain. A leader in the Indian Ocean and exemplary in its ESG commitments, the group has developed a wide range of complementary products, which it distributes in France, Asia and the United States.

More information: https://www.reunimer.com/

About Hivest Capital Partners

Hivest Capital Partners is an independent private equity firm approved by the Autorité des Marchés Financiers. Hivest Capital Partners invests in SMEs or mid-cap companies with a turnover between €50m and €500m, in the context of buyout or capital expansion projects. Hivest capital’s objective is to help companies reach their full potential by implementing ambitious growth strategies and improving operational performance.

More information: https://hivestcapital.com/

Parties’ involved

Buy-side:

• Investor – Hivest Capital Partners: Cédric Lépée, Axel Bonnassies, Sacha Gasy, Roland Hillion, Théophile Mulsant
• Buy-side Advisor – Aymax: Guillaume Bourcier
• Financing – Rothschild & Co: Grégory Fradelizi, Nicolas Levy, Baptiste Behaghel
• Legal Counsel – Moncey Avocats:
  • Corporate and transaction: Frédéric Pinet, Pierre-Alain Bouhénic, Pierre Faure, Vianney Birot
  • Tax: Frédéric Bosc, Mathilde Cotillon
  • Financing: Jonathan Devillard, Florana Benabid, Diane Ferriol
• Financial due diligence – Accuracy: Jean-Romain Gotteland, Arnaud Dhers, Julien Bousquet
• Strategic due diligence – Strategia Partners: Jean Berg, Thomas Chevre, Manon Clement
• ESG due diligence – Cority: Baptiste Hetreau, Louise Marques, Lucille Jacqmin

Sell-side:

• Seller – Réunimer Pêcherie du Sud: Sébastien Camus, Olivier Méraud, historical family shareholders
• Sell-side advisor – Largillière Finance: Shamir Razavhoussen, Florian Leginy, Paul Sardinha Marques
• Legal Counsel – Herald: Arnaud Levasseur, Marion Salus
• Financial due diligence – EY: Donald Li Fook, Varun Sibdoyal

Lenders:

• Lead – BRED BANQUE POPULAIRE: Caroline Soulignac, Ashok Bartwal, Philippe Reby, Théo Pierin
• Other lenders: BANQUE FRANÇAISE COMMERCIALE OCEAN INDIEN, BNP PARIBAS REUNION, CAISSE D’EPARGNE CEPAC

Contact

Hivest Capital Partners: Roland HILLION, 140 Boulevard Malesherbes – 75017 Paris, roland@hivestcapital.com