Cognetas sells Diana Ingredients for €710m

Diana Ingredients is a supplier of natural ingredients to attractive niche markets within the pet food and food and beverage industries. The group produces palatability enhancers for the pet food industry and natural extracts for the beverage, baby food, savoury and nutraceutical markets. It also provides culinary products such as sauces and retextured products used in the meat industries as well as for catering and restaurants.

Diana Ingredients employs 1,100 people in countries including France, Spain, the UK, the US, Brazil, Argentina and Australia.

Cognetas backed the original MBO of Diana Ingredients in 2004 in a €270m transaction.

Patrick Eisenchteter, partner of Cognetas, said, 'We are delighted to have backed a dynamic management team to develop further Diana Ingredients as a worldwide quality supplier in the industry. The work done over the last three years across the three divisions has put the business on extremely sound and robust grounds which will help sustain its continued growth.'

This is the second transaction announced by Cognetas in France this year, following the acquisition of Saint-Gobain Desjonquères for €670m in March.

Cognetas has offices in Frankfurt, London, Milan and Paris. The firm advises funds of €2.26bn.

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