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Apax sells French Groupe Hubert to Irish foods sector group IAWS for €105m

Apax Partners France have sold their majority stake in Groupe Hubert, the French distributor of products for the bakery, confectionery and food services sector, to the Irish foods sector group IAWS. The transaction price is €105m.

Groupe Hubert was founded in the 1950s and creates or supplies products with high added-value, manufactured by a limited number of selected suppliers and listed under the 'Coup de Pates' brand.

Apax acquired Groupe Hubert from the founding family in September 1999. Since then Hubert turnover has risen from €35m to €120m.

The management team set up in 1999 will continue to run Groupe Hubert.

Apax partner Jean-Louis Rambaud said, 'Hubert is a real success story to which we are proud to have contributed. The company has changed in size, yet retained its original and unique "Coup de Pates" concept.'

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