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Global venture capital and private equity firm 3i has sold its 25% stake in Senoble, the third largest French producer of yogurts, dairy products and chilled desserts. The Senoble family has bought back 3i’s stake and will now regain 100% ownership of the business, which has doubled in size during 3i’s involvement over the past four years.

Marc Senoble, fourth generation family business owner, sold a 25% holding to 3i in 2004 in order to finance the growth of the group.

During that time turnover almost doubled from €630 million to over €1.1 billion; international business increased from 25% to 55% of total sales; four acquisitions were made outside of France; and the number of industrial manufacturing sites doubled to 12 (5 in France, 3 in the UK, 1 in Spain, 1 in Italy and 2 in Slovakia).

Senoble is the market leader in private label dairy products which represents 85% of the company’s business, with the remaining 15% marketed under the Senoble and Weight Watchers brands or local brands in central Europe.

Marc Senoble has recruited Francois Salamon, former executive at Danone and Club Med, as General Manager in order to add international expertise to the management group.

Marc Senoble comments: “Over the past four years, I have been grateful to have chosen 3i as a partner. Leveraging its international network, in depth sector knowledge and active partnership style, 3i has played a fundamental role in our expansion in the UK and has fervently supported our development strategy in Europe.”