Peugeot Invest takes a stake in Robertet
Robertet Successfully reshapes Its Shareholder Base to Support Long-Term Growth Ambitions
· Robertet welcomes the Fonds Stratégique de Participations (FSP) and Peugeot Invest, each investing €125 million in its capital through the acquisition of shares and investment certificates from dsm-firmenich
· The Maubert family, controlling shareholder of Robertet, will reinforce its ownership by acquiring investment certificates from Firmenich for €7.5 million
· dsm-firmenich has sold the majority of its holding, in a transaction that expands the company’s free float by nearly 6% of the capital
Grasse, Paris and Neuilly-sur-Seine, November 15 2024 - Robertet, a world leader in natural ingredients for fragrances and flavors, today announced the entry of the Fonds Stratégique de Participations (FSP), managed by ISALT, and Peugeot Invest as shareholders, alongside the Maubert family, which will further strengthen its position. The two new investors have enabled the divestment of the bulk of dsm-firmenich’ stake, in a transaction (by way of an accelerated bookbuilding) that expands Robertet’s free float.
As part of this transaction, the FSP, managed by ISALT, and Peugeot Invest each acquire a 7.1% stake in Robertet, with an individual investment of €125 million. This investment is comprised of a block of common shares (4.9% of the capital)[1] and investment certificates (2.2% of the capital). Enabled by the divestment of dsm-firmenich, this investment involves agreements with Maubert SA, the family holding company controlling Robertet, aimed at strengthening Robertet’s governance, shareholder structure, and independence over the long term.
The FSP and Peugeot Invest are to join Robertet’s Board of Directors as independent members, with the support of Maubert SA.
This market transaction also initiated by dsm-firmenich contributes to the expansion of the company’s free float. With this operation, Robertet opens a new chapter in its shareholder history and reaffirms its commitment to improving the liquidity and trading activity of its stock.
Founded in 1850 in Grasse by the Maubert family, Robertet has built a unique leadership position around the natural ingredients, flavors and fragrances segments.
The company has established itself as a global leader in this field, mastering the entire value chain from raw ingredients to end products for the beauty, health, and food industries. This vertical integration, from sourcing raw materials to creating final compositions, enables Robertet to ensure exceptional traceability and quality. The company is recognized for its commitment to innovation and sustainable development, continuously exploring new natural sources worldwide to enhance its offerings and meet client expectations. The company generated over €720 million in revenue, with more than 80% from international operations in 2023.
Philippe Maubert, Chairman of Robertet's Board of Directors, commented: “Robertet is delighted to welcome, alongside the Maubert family, the FSP and Peugeot Invest, two new investors confident in its unique and sustainable business model. As a family-controlled industrial company listed on the stock market, Robertet confirms once again its commitment to independence.”
Jérôme Bruhat, Chief Executive Officer of Robertet, added: “A new, stable group of shareholders supportive of our vision is a unique asset for Robertet’s future success. Their backing will allow us to reinforce our leadership in natural raw materials, expand our international presence, and invest in ambitious projects to serve our clients with high-quality, innovative, and sustainable products that have established our reputation.”
Renaud Dumora, Chairman of the FSP, said: “By investing in Robertet, a historic leader in natural raw materials and a hallmark of Grasse’s heritage, the Alliance of seven leading French insurance companies composing the share capital of FSP, reaffirms its commitment to primarily support leaders in French industry. This investment, alongside the Maubert family and Peugeot Invest, bolsters the strategy and development of an iconic French company with unique expertise, driven by continuous innovation. It is yet another illustration of the mission and long-term vision of the FSP's insurer as shareholders.”
Robert Peugeot, Chairman of Peugeot Invest, said: “We are pleased to support Robertet in the reshaping of its capital structure, marking a new stage in its history, alongside trusted partners. Our DNA as a long-term family investor enables us to back Robertet’s ambitious development driven by the team led by Jérôme Bruhat. As an independent member of the Board, Peugeot Invest will bring its experience as a publicly listed investment company to support the management’s recent initiatives to enhance market awareness and recognition of Robertet.”
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Advisors
Darrois Villey Maillot Brochier, PR Associés, and Bompoint acted as legal advisors for Maubert SA and Robertet, the FSP, and Peugeot Invest, respectively.
Greenhill & Co served as the sole financial advisor to the FSP and Peugeot Invest.
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Summary of transaction terms and agreements
Today, dsm-firmenich sold 135,000 shares to third-party investors through an accelerated bookbuilding process. Concurrently, FSP and Peugeot Invest each purchased 113,662 shares and 51,000 investment certificates (ICs) from dsm-firmenich for a total of €125 million. Additionally, Maubert SA, Robertet’s controlling shareholder and active holding company, has committed to acquire, directly or indirectly, 15,007 ICs from dsm-firmenich within the next ten months for a total price of €7.5 million (subject to interest accrual based on the closing date of the sale).
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