SCOTTO & ASSOCIES is advising management on the merger between Grain d’Or Gel and Lubrano & Fils
The Grain d’Or Gel and Lubrano & Fils bakery groups are merging to form the Novepan group through a management buyout (LBO)
Acquired in 2008 by Marc Lévy, with support from Omnes Capital and Bpifrance, Grain d’Or Gel is now one of France’s leading manufacturers of bread and pizza dough, pastries, and frozen snack products, with annual revenue of approximately €25 million.
Founded in 1934, Lubrano & Fils is a family-owned business currently led by the founder’s grandson, François Lubrano. The company specializes in the production of bread, primarily pre-baked and frozen, and generates annual revenue of approximately €25 million.
The two executives decided to join forces to form a single group, Novepan, generating consolidated revenue of €50 million. Azulis Capital is overseeing the merger of the two baking groups and is thus becoming the majority shareholder of Novepan, the new entity, alongside management. This reorganization also marks the exit of the long-standing shareholders, Omnes Capital and Bpifrance.
Marc Lévy and François Lubrano will continue to serve as executives of the new group.
Legal counsel for the transaction:
Management was advised by Scotto & Associés, with a team led by Nicolas Menard-Durand, a Corporate Partner, assisted by Franck Vacher and Cristina Narvaez. The tax team was led by Jérôme Commerçon, a Partner, assisted by Loïc Muller. The employment law team consisted of Sérafine Poyer, Counsel, and Justine Moreau.
Firm Contacts
Nicolas Menard-Durand
+33 (0) 1 83 92 38 38
Jérôme Commerçon
+33 (0) 1 83 92 38 38
Press Contacts
Eliott & MarkuS
Aurélie Lustremant
+33 1 53 41 89 98
a.lustremant@eliott-markus.com
Nicolas Delsert
+33 1 53 41 89 93
