BC Partners acquires Havea for $1.16 billion -source

FRANKFURT (Reuters) - London-based private equity firm BC Partners has acquired French natural healthcare group Havea from 3i Group for 1-1.1 billion euros ($1.05 - $1.16 billion), a source familiar with the matter told Reuters.

BC Partners led the investor group in partnership with PSP Investments and National Pensions Services Investment Management (NPS). The bidder intends to accelerate Havea's pace of M&A and continue investing in digitalisation.

"The business has made five key strategic acquisitions since 2017, and we look forward to working with the team to drive Havea's continued international expansion," said Fouad Jaïdi, managing director at BC Partners.

Proceeds to 3i will represent around 50% uplift to its 31 March valuation. Havea, which owns brands such as Aragan, Biolane and Vitavea, employs over 800 people and is headquartered in Boufféré, France.

($1 = 0.9519 euros)

(Reporting by Emma-Victoria Farr, editing by Jason Neely)

By Emma-Victoria Farr