About the deal

Avril has acquired a majority stake in HARi&CO, alongside the founders, to accelerate the company’s development. In line with its ambition, Avril continues its growth in proteins and strengthens its food product offer, aimed at consumers and catering professionals. Founded in 2014, HARi&CO is one of the market leaders with a range of 100% plant-based ready meals and catering products, made with legumes, for a more sustainable diet. Its mission is to democratize plant-based cuisine with gourmet, colorful and healthy recipes. With more than 35 employees, HARi&CO is present in mass distribution in more than 5000 stores, and in collective and commercial catering.

Already deeply committed to the development of plant protein for the food market, Avril strengthens its positions in mass consumption with an expanded food offer. With HARi&CO, it is expanding its portfolio of brands to offer a new range of products in line with consumer expectations.

A mission-driven company, HARi&CO is recognized for its expertise in plants, the quality of its products, and its commitment to the agricultural world. Its products are made in France from local productions; they are minimally processed, natural, and without additives.

This acquisition of a majority stake by Avril marks the investment fund outflow from Eutopia, a shareholder of the company since 2017 via its Otium Consumer fund, and Triodos Investment Management. 

What we did

Capitalmind Investec has advised Avril Group on its investment in HARi&CO, providing sector input, valuation guidance, advice on deals tactics and governance, and execution support.

This deal illustrates Capitalmind Investec know-how in supporting companies in their growth project over the long-term: this is our 18th transaction for Avril Group.

Deal Type
Target Headquarter
July 2023