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Weinberg Capital Partners acquires Ecotel Chomette Favor (E.CF)

Weinberg Capital Partners has reached an agreement to acquire the E.CF Group (Ecotel Chomette Favor) from its major shareholders, EF Logistics, Equity Finance, the management team and Financière Groupe Ecotel (FGE).

 

Thierry Drecq and the management team of E.CF, Financière Groupe Ecotel chaired by Jean-Luc Saxod and Salvepar (an investment company affiliated with Société Générale) will participate alongside Weinberg Capital Partners in this transaction.

The transaction is subject to approval by competition authorities.

Founded in 1880, E.CF is today the undisputed leader in the distribution of small equipment and non-food consumables to catering and hotel professionals in France.

E.CF has 540 employees and posted sales of approximately € 130m (excluding sales from franchisees) in the financial year ending March 31, 2011. The company has 46,000 customers (large chains and independent establishments in the catering and hotel businesses, public bodies, butchers and other professionals.)

E.CF distributes the products of nearly 420 suppliers, offering the widest range on the market with over 26,000 product references in such fields as tableware and small kitchen, hygiene and maintenance equipment.

The Group's success is based on a first-class logistical organisation and a network of salespeople and of recognized retail brands (Chomette, La Corpo, Santor ...) that addresses the largest possible number of customers accross three channels: direct sales, indirect sales through a network of 37 franchised ‘Ecotel\' stores and 7 of its own stores, as well as e-commerce through the www.chomettedirect.fr website.

The Group exports its products mainly in the Benelux countries, as well as indirectly in Italy and the UAE.

The acquisition by Weinberg Capital Partners will allow E.CF to accelerate its development in France and abroad and carry out an active strategy of acquisitions.

Philippe Klocanas, a Partner of Weinberg Capital Partners, declared: "Under the leadership of Thierry Crecq and his teams, the E.CF group has become the leader in the distribution of small equipment and consumables to catering professionals and has managed to continue growing in the face of the recent economic slowdown. We are very pleased to support the management team during this shareholder transition and will provide our extensive experience in the retail sector to support the continued expansion of E.CF. "

Thierry Drecq, CEO of E.CF, commented: "We are very pleased to be able to count on our new shareholders to initiate a new phase of growth for E.CF. We are convinced that with the involvement and support of Weinberg Capital Partners, our teams and all our partners, we will continue the successful development of our Group in France and around the world in the interest of all our stakeholders."