The bond has a duration of 5 years, a coupon of 7.25%, and will be publicly traded (ISIN: DE000A1TNHB2) at the small and medium bond market segment ‘der Mittelstandsmarkt’ of the Duesseldorf Stock Exchange, Germany.

More information about the bond can be found at www.hallhuber.com/anleihe.

About Change Capital Partners

Change Capital is a specialised private equity partnership, focused on making control investments in consumer-oriented businesses across the European lower mid-market.

The firm was founded in 2003 by Luc Vandevelde and brings together one of the most experienced team of consumer-focused investment professionals that have so far deployed close to €400m through 12 acquisitions across Europe.

Luc Vandevelde – Pioneer returns for ECR dinner

One of the pioneers of ECR Europe will be back next month to help us celebrate our first ECR Europe Awards.

Luc Vandevelde, who was co-chair from 1998 to 2002, will be the guest speaker at our awards night dinner in Brussels on 14 May.

It will be a welcome return for someone who was an influential figure in ECR Europe’s formative years and who launched the Global Commerce Initiative, which created a worldwide platform for co-operation between retailers and manufacturers.

Luc began his FMCG career with Kraft, where he spent 24 years in Europe and the US before joining French retailer Promodès as president and COO in 1995. Following its merger with Carrefour, creating Europe’s biggest retail group, he became Carrefour’s chairman and later chairman of Marks & Spencer in the UK.

He went on to set up Change Capital Partners, a private equity firm specialising in consumer-related businesses, and is its chairman.

At our dinner we will be presenting three awards: the Best Activation Award, for the best collaborative project, as chosen by delegates during the conference earlier in the day; Lifetime Achievement Award, for outstanding work in driving ECR principles; and Next Generation Leader, as selected by participants on the ECR LaB academic programme.

You can view his recent interview below, courtesy of SuperReturn:

‘MAKING GOOD BUSINESSES GREAT’ – A HANDS-ON PERSPECTIVE ON PE BY ‘CHIEF ENABLING OFFICER’ LUC VANDEVELDE

MVCA had the pleasure to welcome Mr. Luc Vandevelde – Founder and Chairman at Change Capital Partners - a specialist Private Equity firm focused on mid-market consumer related businesses across Europe. Mr. Vandevelde is currently a Senior Independent Director of Vodafone, and former Chairman of Carrefour and Marks & Spencer.

In his speech entitled ‘Making Good Businesses Great’, Mr. Vandevelde shared the lessons learned from financial, political and economic crises as well as challenges faced while running multiple private and public blue-chip corporations in top executive positions.

Mr. Vandevelde provided his perspective on how to invest today, and explained why – in his viewpoint – Private Equity is the best type of ownership, based on his vast experience of investing in mid-market private companies.

He shared insights on what criteria to look for when making an investment and how to approach this exercise. Luc provided hands-on examples of how Change Capital identified unique value creation opportunities in some of their current portfolio companies, working alongside company founders and owners in bringing their businesses to the next stage(s) of development.

The event was fully-booked and attended by approximately 40 Members and guests. Luc’s speech was followed by a dynamic Q&A session, during which he gave members of the crowd his view and further input on some precise enquiries related to specific corporate situations.

For the original article, please visit: MVCA article

• Macduff Shellfish on growth plan to double its business 

The UK’s largest wild caught shellfish processor, Macduff Shellfish, has acquired  the UK’s largest scallop fishing fleet, Scott Trawlers, in a ground-breaking deal for the two businesses, backed by Royal Bank of Scotland.

The deal, a first for Macduff Shellfish in acquiring a whole fleet of fishing vessels, brings together two major players in the shellfish industry and enables greater integration through the scallop fishing, processing, sales and marketing process.  It forms part of an ambitious plan by Macduff Shellfish to double the size of its business in the next five years.

Scott Trawlers, based in Dumfries, operates five scallop fishing vessels, two of which have ‘frozen at sea’ capabilities, unique in the scallop industry.  The vessels account for over 15% of all UK scallop landings.  The company also has a fleet of refrigerated lorries and a marine engineering business, catering for the equipment needs of scallop fishermen. Scott Trawlers employs 50 employees across the three operations, 35 of whom are fishermen.

Macduff Shellfish, based in Mintlaw near Peterhead, processes shellfish and exports to Europe and the Far East as well as supplying the UK market.

Commenting on the deal Euan Beaton, Chairman of Macduff Shellfish, said:

«Owning an entire fishing fleet is a first for Macduff Shellfish.  This significant deal enables us to expand our scallop business, allows us to have a full chain of custody from the sea to the customer and consolidates a solid 15 year relationship between the two businesses.»

«Scott Trawlers has seen continuous investment which is apparent from the quality of the vessels, onboard equipment and exceptional calibre of the team and that was particularly attractive to us.  We look forward to working with them all in taking the business forward.»

«This is a really exciting time in Macduff Shellfish’s continued expansion.  Over the last 10 years we’ve quadrupled the business.  In the next five years I’d like us to double it again with further acquisitions such as this and through organic growth, including diversifying into other shellfish categories.»

Andy Scott, CEO of Scott Trawlers, added:

«The team at Macduff Shellfish have a strong work ethic, are ambitious and continually invest in their business.  The two businesses are a great fit and that was very important to me as I looked for ways in which I could still operate and grow the business but in partnership with a like-minded operation.»

«We have always been at the forefront of the scallop sector and this deal enables us to bring forward innovation from the catch through to the end product.  That provides an exciting future for Scott Trawlers working as part of a much bigger team.»

Scott Trawlers will become a subsidiary of Macduff Shellfish, based in Dumfries and staff will continue to report into Andy Scott.

Although this is the first acquisition of a fishing fleet, Macduff Shellfish provides financing assistance to fishermen looking to purchase a vessel or invest in equipment in a constant effort to secure supply.

Euan Beaton added:

«To date we have financing arrangements in place with nine vessels.  We are keen to expand this as well as looking at other acquisitions within the shellfish industry.»

Rory McPherson, Head of Structured Finance, Aberdeen, Royal Bank of Scotland Corporate & Institutional Banking, said : «We are delighted to be able to support this deal which brings together two industry leading companies led by excellent management teams.»

«The business case for this deal is compelling and will help to drive the growth of Macduff Shellfish in order to reach its ambitious targets.  Our involvement in this deal underlines our commitment to support quality businesses in the North East of Scotland.»

Notes to editors:

Andy Scott, who is well known in motorsport circles, was prompted to enter the fishing industry as a result of the Chernobyl disaster which impacted negatively on the Scottish lamb industry and had a knock-on effect on his haulage operation.  He set up as a sole owner of a scallop boat in 1992, establishing Scott Trawlers, a family business that he ran with his three sons, as a limited company in 2000.  Andy sold a small scallop processing business, Scott Trawlers Plymouth, to its management team last year.

Scott Trawlers operates five scallop fishing vessels, which fish around UK waters -   DS10 – Albion ; DS11 Vertrouwen ; PD905 Honeybourne III ; DS8 Sylvia Bowers (named after Andy’s mother) and DS7 – Jacoba.

Macduff Shellfish was set up in 1985 in Macduff buying and selling live shellfish direct from the fishermen for freight to Europe.  The factory in Mintlaw was bought in 1996 as the company diversified from chilled into frozen shellfish, the mainstay of its current operation which sees products distributed globally.

Please see link to press release on Macduff Website below:

http://www.macduffshellfish.co.uk/about-us/latest-news/

http://www.graziadaily.co.uk/fashion/archive/2012/10/16/paule-ka-designer-serge-cajfinger-on-dressing-kate-middleton-and-the-brands-new-.htm

http://www.youtube.com/user/RossopomodoroUK

You can view his recent commentary below, courtesy of Bloomberg.

Paule Ka, the Paris-based women’s ready-to-wear accessible luxury brand was founded in 1987 by Serge Cajfinger, who continues to lead the company as Creative Designer and President. The designs are inspired by the fashion icons of the 1950-60s with an emphasis on elegance, femininity and understated quality. Paule Ka is sold through owned retail stores (8 POS in France, the UK and Belgium), agents and franchises (7 POS), corners of department stores (29 POS) and wholesale accounts (c.370 multi-brand POS). For the year ending July-2011, Paule Ka will report sales of c. €40m, a 17% increase vs. last year. Paule Ka is present in 53 countries, with France accounting for c. 50% of sales.

The management of the Company remains unchanged: Serge Cajfinger will continue to act as Creative Designer and President while Antoine Bing, who joined in 2002, will remain Deputy Managing Director.

The growth plan for the business will extend Paule Ka’s position in the affordable luxury space internationally, responding to the continued demand for the brand by opening new stores, and building upon the strong wholesale positions in key European countries and other markets to realise the business’ full international potential. The number of own retail stores in Europe is anticipated to double in five years and alongside significant developments in wholesale distribution, notably in China; a contract has just been signed with a franchise partner, the Hengdian Group in China, which forecasts more than 14 corners within 5 years. A new owned store will open in Madrid in September 2011.

This is the fifth investment made by Change Capital out of its second fund CCPII.

Serge Cajfinger, founder and President of Paule Ka SAS. commented:

“I could not be happier. I am very proud of what we have achieved and would like to thank CDC Enterprises for their support. Paule Ka is a Parisian brand, for all the women of the world who are Parisian at heart. I am thrilled at the prospect of developing our brand to its full potential internationally and in Change Capital I believe we have found the ideal partner to help us achieve this.”

Stephan Lobmeyr, Managing Director of Change Capital, said today:

“We are delighted to have been chosen by Serge Cajfinger and his team as partners to further develop the business. We admire greatly what Serge Cajfinger has achieved and share his belief in the considerable international potential of Paule Ka. We look forward to working together and making Paule Ka a global success story in the affordable luxury space”.

Isabelle Ginestet-Naudin, Director at CDC Entreprises and Manager of the fund Patrimoine et Création, also commented:

“We would like to thank the management of Paule Ka for leading the business through a growth period despite the challenges experienced in the luxury sector since 2007. I would also like to welcome Change Capital and believe that they will be fundamental in providing Paule Ka with the necessary resources to support the company into the next phase of its international development. We are happy to have been involved in what is a successful entrepreneurial story in the luxury sector”.

The Sellers were advised by Credit Suisse France (Alexa Attias and Sophie Colas) as financial advisor and by the law firm Field Fisher Waterhouse France LLP (Christopher Mesnooh and Gaël Barbier) and Groupe Fiduciaire Fortuny (Michel Sarmont) as legal advisors.

Change Capital Partners LLP was advised by the law firm Linklaters LLP (David Swinburne, Marine Delaitre and Edouard Chapellier) as legal advisor.

For further information please contact:

Brunswick – Alexandra Van Weddingen, Laetitia Pasquier, +33.1.53.96.83.83

About Paule Ka SAS.

(www.pauleka.com)

Paule Ka was founded by Serge Cajfinger in 1987 in the Marais area in Paris. In 1989, the first Paule Ka store was opened in rue Mahler in Paris, followed by 2 more stores in Paris in 1992 and 1999. In 2000, Paule Ka opened its first store in London. In 2006, the flagship Paris store in rue Saint Honoré was opened. In 2007, FCPR Fonds Patrimoine et Création (CDC Entreprises) entered Paule Ka with a capital injection which financed a new phase of expansion. In 2008, a new store in Cannes was opened.

The Company now operates 8 own retail locations in France, the UK and Belgium. A new flagship store is planned to open in Madrid in September 2011. Paule Ka is sold through 53 countries around the world, through agents, franchises (7 POS), corners of department stores (29 POS) and wholesale accounts (c.370 multi-brand POS). France accounts for c. 50% of sales.

About Change Capital Partners

Change Capital Partners is an independent, privately owned private equity firm which focuses on mid-market deals throughout Western Europe and leverages its extensive retail and consumer industries expertise.

The firm was created in January 2004 by Luc Vandevelde, former Chairman of both Carrefour and Marks & Spencer, together with a dedicated team of professionals with complementary retail and private-equity experience.

Change Capital Partners is registered in the UK and is authorized and regulated by the FSA.

(www.changecapitalpartners.com)

About CDC Entreprises

CDC Entreprises is a management company authorized by France’s financial market regulator, the AMF, and a wholly-owned subsidiary of the Caisse des Dépôts. CDC Entreprises is a direct and indirect investor in SMEs, on a national or regional level, ranging from technology seed funding to small company transmissions. The largest subscriber of CDC Entreprises’ funds is the Caisse des Dépôts group (notably the “Fonds Stratégique d’Investissement”, FSI).

Fonds Patrimoine et Création » (Heritage and Creation Fund) is a fully invested €40m Caisse des Dépôts-sponsored and CDC Entreprises-managed growth capital fund investing in creative industries, targeting independent and profitable French SME’s with a turnover over €5m which are operating in publishing, music, filmed entertainment and luxury. A successor fund, « Fonds Patrimoine et Création II», has reached a €45m CDC-sponsored closing and is open to third party investors.

(www.cdcentreprises.fr)

Based in Mintlaw, Scotland, Macduff is a leading purchaser, processor, marketer and distributor of a range of high quality frozen and fresh shellfish products to retail and wholesale customers in the UK and Mainland Europe.

Macduff was founded in 1987 by the fifth generation of the Beaton family who have been actively involved in the seafood industry for more than 120 years. The management, now led by three brothers, have expanded the business successfully over recent years.

Steve Petrow, Managing Director of CCP, commented:

“Macduff’s focus on high-quality frozen shellfish represents a strong growth opportunity in a rapidly developing area of the food market. The company has been well run by the Beatons and we look forward to working alongside them to develop Macduff into a substantial international business.”

Euan Beaton, Managing Director of Macduff said:

“We are delighted to be working with CCP as we move Macduff forward into the next phase of its exciting development and I am convinced the expertise and assistance of CCP will prove invaluable.  CCP’s extensive retail and consumer knowledge will help Macduff further raise its profile in the global shellfish market, adding to the valuable reputation the Scottish shellfish industry has worldwide.  In addition to providing significant opportunities for Macduff and the vessels we source from, this investment is a vote of confidence in the entire Scottish shellfish industry.”

About Change Capital Partners

Change Capital Partners (www.changecapitalpartners.com) is an independent, privately owned private equity firm which focuses on mid-market deals throughout Western Europe leveraging its extensive retail and consumer goods industries expertise. The firm was created in 2003 by Luc Vandevelde, former Chairman of both Carrefour and Marks & Spencer, together with a dedicated team of professionals with complementary retail and private-equity experience. Change Capital Partners is registered in the UK and is authorized and regulated by the Financial Services Authority.

About Macduff Shellfish (Scotland) Limited

Macduff Shellfish (Scotland) Limited (www.macduffshellfish.co.uk) is a privately owned business based in Mintlaw that has been processing fish and shellfish in Scotland for over 120 years. Its core products are Scottish shellfish (scampi, crab, scallops, whelks and others) which are marketed both frozen and fresh.

For further information please contact:

Gill Ackers / James Olley Brunswick +44 20 7404 5959