EURAZEO (EPA:RF) - EURAZEO BRANDS SIGNS EXCLUSIVITY AGREEMENT TO ACQUIRE MAJORITY OF FRENCH PETFOOD BRAND ULTRA PREMIUM DIRECT

Transparency directive : regulatory news

30/03/2021 07:30

Press release

EURAZEO BRANDS SIGNS EXCLUSIVITY AGREEMENT TO ACQUIRE MAJORITY OF FRENCH ET
FOOD BRAND ULTRA PREMIUM DIRECT

Paris, 30 March 2021

Eurazeo Brands, the division of Eurazeo focused on high growth, differentiated
consumer brands, has signed an exclusivity agreement under which it would
invest 68 million euros in Ultra Premium Direct as a majority shareholder.
Eurazeo is investing alongside co-founders Sophie and Matthieu Wincker and
Eutopia, existing minority shareholder via Otium Consumer, which would reinvest
in the transaction via its new fund.

Founded in 2013, Ultra Premium Direct ("UPD") has quickly become a leading
player in the French premium pet food market. As a digitally-native brand, it
has a strong and engaged community, and was selected as one of the French Tech
120 in 2021. Thanks to its unique positioning and direct approach, Ultra
Premium Direct aims at democratizing premium pet food, offering natural
products which cater to pet needs at an attractive price point, directly
through its own website and subscription service.

Ultra Premium Direct is focused on improving pet health and well-being. The
company develops high protein products with no artificial colourings or
preservatives in collaboration with veterinarian nutritionists to ensure
balanced and appropriate recipes. Its R&D capabilities and owned industrial
plant in Agen, south of France, has enabled strong control over its value chain
and contributed to the local roots of the brand.

Eurazeo Brands would leverage its proven brand building, operating and consumer
expertise to partner with UPD and support the company's growth. Specifically,
Eurazeo will invest in UPD's digital and e- commerce capabilities to strengthen
the brand and its community, and work alongside management to enhance UPD's
product and service offering. In addition, Eurazeo would utilize its global
network to help UPD in its international expansion, notably in Europe, and
provide its internal CSR expertise to support the brand's purpose-driven
mission.

This majority investment in Ultra Premium Direct demonstrates Eurazeo Brands'
willingness to pursue its European development, after the acquisition of
Swedish brand Axel Arigato in November 2020. It would represent Eurazeo Brands
ninth investment since May 2017.

Laurent Droin, Managing Director of Eurazeo Brands, said:

The pet food category benefits from very attractive underlying trends towards
pet humanization, premiumization and search for quality and transparency. We
are convinced that Ultra Premium Direct is a modern and differentiated brand as
a result of its direct approach to consumers, without intermediaries, and high
quality product offering distributed at a fair price point. We are eager to
work alongside Sophie and Matthieu Wincker - co-founders of Ultra Premium
Direct - and their team to support the future growth of the company by
accelerating momentum in France and expanding internationally, penetrating new
geographies.

Sophie and Matthieu Wincker, Co-founders of Ultra Premium Direct, said:

We are thrilled by Eurazeo's investment into the company. Ultra Premium Direct
was a pioneer in the pet food category and has become a leading player in
France. We are delighted to benefit from Eurazeo's support for our next
journey, notably for our European expansion, and are convinced Eurazeo will be
the right partner given their successful track record and capabilities.
Together, we will further fulfill our mission to make quality pet food
accessible to as many dogs and cats as possible.

About Ultra Premium Direct

Ultra Premium Direct is a French premium petfood brand. Founded in 2013 by
Sophie and Matthieu Wincker, two animal- lovers, the brand differentiates
itself, offering high quality products catering to dogs and cats' natural
needs, distributed exclusively through its own website, with an attractive
price point. Ultra Premium Direct relies on a short and vertically integrated
value chain thanks to owned production and logistic facility in Agen, allowing
to offer a differentiated experience to consumers. The brand is highly
authentic, mindful, and animates a strong community of loyal and engaged fans,
sharing Ultra Premium Direct values and acting as brand ambassadors.

About Eurazeo
Eurazeo is a leading global investment group, with a diversified portfolio of
EUR21.8 billion in Assets Under Management, including EUR15.0 billion from
third parties, invested in over 450 companies. With its considerable private
equity, real estate and private debt expertise, Eurazeo accompanies companies
of all sizes, supporting their development through the commitment of its nearly
300 professionals and by offering deep sector expertise, a gateway to global
markets, and a responsible and stable foothold for transformational growth. Its
solid institutional and family shareholder base, robust financial structure
free of structural debt, and flexible investment horizon enable Eurazeo to
support its companies over the long term. Eurazeo has offices in Paris, New
York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and
Madrid. Eurazeo is listed on Euronext Paris. ISIN: FR0000121121 - Bloomberg: RF
FP - Reuters: EURA.PA

About Eutopia
Eutopia is a Paris & NYC based investment fund dedicated to consumer startups
with a purpose. Eutopia's investment thesis is driven by current shifts in
consumer behavior. We back founders who are rethinking the way we eat, shop,
sleep and feel through a "good for me, good for the communities, good for the
planet" approach. The team manages 170 million euros and has invested in 26
companies including Oh My Cream !, Hari&co, Tediber, Tiptoe or Nous Epiceries
Anti-Gaspi. For more information please visit: www.eutopia.vc.

EURAZEO CONTACTS

PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
mail : pbernardin@eurazeo.com
Tél : +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33 1 44 15 76 44

PRESS CONTACT

MAITLAND/amo
DAVID STURKEN
mail: dsturken@maitland.co.uk
Tel: +44 (0) 7990 595 913

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