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Cognetas acquires Saint-Gobain Desjonquères for €670m30/03/2007. Source: AltAssets. 
 Cognetas, a mid-market European private equity firm, has purchased a majority stake in Saint-Gobain Desjonquères together with Sagard, the French private equity house. SGD is a manufacturer of specialised glass packaging for the cosmetics and pharmaceutical industries.
As part of the €670 million deal, Saint-Gobain, the vendor, will retain a minority interest of 20 per cent in the company and will be represented on the board of directors. The management team, led by François Dujardin, will also hold a stake in the company.
Edward Koopman of Cognetas said, 'We are delighted to have gained a unique asset in the glass packaging industry, one which is a clear market leader in its field and well positioned to leverage its footprint and expertise in the western world and expand into developing markets. We look forward to working alongside the management and employees in delivering their strategy and achieving their goals.'
SGD is a global manufacturer of specialised glass bottles and flasks. It has 11 manufacturing sites and 20 furnaces worldwide including in France, Germany, Spain, USA, Russia, Brazil and China. In 2006 the Company generated sales of approximately €600m and it has 6,000 employees worldwide.
Cognetas operates in Frankfurt, London, Milan and Paris advising funds of €2.26bn. The investment team focuses on the sectors of business services, industrial, consumer related industries, financial services and healthcare services and equipment. Cognetas announced the closing of Cognetas Fund II at €1.26bn in July 2005.
Cognetas, formerly known as Electra Partners Europe, recently sold Aliplast Group, a European supplier of aluminium profile systems, to an MBO team-led consortium backed by Sagard and Ergon for €430m.
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