2023-06-14 11:56:12
The Legal coffee roasting company, whose factory is located in Le Havre (Seine-Maritime), now has the majority shareholder of the FNB investment fund, specializing in SMEs in the food industry, and its own management.
The Legal coffee roasting company, whose factory is located in Le Havre (Seine-Maritime) and which was bought in March 2022 by businessman Michel Ohayon, now has the investment fund FNB, which specializes in agrifood SMEs, and its own management, according to a press release on Wednesday.
With this operation, the financial terms of which have not been communicated, “FNB Private Equity becomes the majority shareholder in the capital of the company alongside the Management”, indicates FNB, specifying that “Christophe Pouyès, currently Managing Director, becomes Chairman of Legal SAS”. The FNB fund, which notably bought the Mousline mash brand from the Swiss giant Nestlé, explains that it intervenes with “SMEs that process and market food products”, “at the time of a transmission, a change in governance or a capital transaction”.
Cafés Legal, founded in 1851, employs 130 people according to this source, including 105 on the industrial site in Le Havre and generates an annual turnover of around 60 million euros. Asked, a spokesperson for Michel Ohayon said Wednesday morning that “neither HPB, nor FIB, nor Michel Ohayon can confirm or deny this information because they have had no capital link for several months with Cafés Legal”. According to two sources familiar with the matter, it was one of Michel Ohayon’s sons who was a shareholder in Cafés Legal before the takeover by FNB.
Michel Ohayon has lost its luster
In March 2022, Hermione, People & Brands (HPB), the distribution division of Michel Ohayon’s fund, FIB, announced that it had acquired Legal for an undisclosed sum. Since then, Michel Ohayon, who had built a small empire in the world of distribution (Camaieu, Go Sport, Gap France, La Grande Récré, 26 Galeries Lafayette stores in the regions) has however lost its luster. Camaieu was liquidated in September 2022, La Grande Récré, Gap France and Go Sport were taken over by competitors at the helm of various commercial courts (respectively by JouéClub in June, JD Sports in May, Intersport in April), and its Financière immobilier bordelaise (FIB) head holding company was placed in receivership in February.
In addition, the Paris prosecutor’s office has opened a judicial investigation for “organized gang fraud, habitual money laundering, bankruptcy and abuse of social property” following “several revelations of criminal facts” reported by the auditors of Hermione, People & Brands.
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