Septentrion Finance has advised on the acquisition of Chocmod by CEREA Capital Partners
13/12/2021
Septentrion Finance has supported CHOCMOD’s management in the sale of their group to CEREA CAPITAL PARTNERS
Having been under the leadership of its two managers since 2008, CHOCMOD is now changing hands.
The world leader in industrial chocolate truffle manufacturing is joining the portfolio of CEREA. The new majority shareholder—holding an 85% stake through its Cerea Capital II fund—appoints Emmanuel Bois as the new CEO.
Attracted by the project, the company’s former owners, Ghislain Lesaffre and Antoine Fortin (who shared ownership equally), are reinvesting in this transaction, facilitated by Septentrion Finance. Ghislain Lesaffre will retain the role of strategic chairman and support the company for one year.
Founded in 1948 in Roncq near Lille, CHOCMOD expanded beyond national borders in the 1980s. Growth accelerated in 2011 with the creation of a production unit near Montreal to serve the North American market. With 120 employees across two production sites, the group now serves European, Asian, EMEA, and American markets, generating over 75% of its €30 million revenue internationally, supported by sales subsidiaries in Shanghai, Hong Kong, and New York. Its product catalog includes nearly 2,000 references—mainly truffles, but also coated marshmallows, chocolate wafers, and nougats—targeting large retail chains, co-manufacturers, wholesale importers, and online sales platforms.
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Sell-side advisors:
- M&A: Septentrion Finance (Damien Barenne, Rudy Sebbah, Pierre-Henry Martin, Laurine Philbert)
- Legal: Alkyne Avocats (André Devaux, Claire Pouzenc)
Buy-side advisors:
- Legal: EY Société d’Avocats (Loïc Jeambrun, Alexandra Arnould, Lauriane Paget)
- Financial due diligences: ACA Nexia (Olivier Lelong, Olivier Duval)
- Strategic due diligences: Estin & Co (Philippe Estin)
- ESG due diligences: ERM Group (Julien Famy, Mina Bernard-Chneiweiss)
- Insurance due diligences: Verspieren (Michel Delbergue)