January BERNI and CM-CIC Investissement. A tasty partnership. Group Crédit Mutuel-CM11

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1 January 2018 BERNI and CM-CIC Investissement A tasty partnership Group Crédit Mutuel-CM11

2 Located in Verdun, in the North East of France, Berni was originally specialized in the production of Italian charcuterie products for families of Italian descent, peculiarly numerous in the Lorraine region. Sixty years later, its range has expanded to include traditional French products and chorizo, and its products are sold in most French supermarkets as well as in 15 other countries. Philipe Trévisan, who has led the company since 2004, spoke to us about the new challenges arising in the company s rapidly changing market. Philippe Trévisan

3 BERNI and CM-CIC Investissement: success on the menu. How has Berni s business changed over the last 60 years? Philippe Trévisan: T he company was set up in 1954 in Loisey, near Bar-le-Duc, by Fernand Berni, an entrepreneur of Italian descent. The company initially specialised in Italian charcuterie, but has gradually diversified into French charcuterie, which we sell to wholesalers, out-of-home eating companies, food producers and, of course, supermarkets. Because of our expansion, we moved to a larger, more modern site in Verdun in In 1992, we carried out an acquisition that expanded our product range to include chorizo, which quickly became one of our star products. In 2000, we built a slicing unit, which provided a further boost to our growth since it enabled us to sell pre-packaged, ready-to-use products. Around that time, retailer own brands became our main source of business. Consumption of charcuterie has fallen substantially in the last few years: how has your company adjusted? P.T.: We are gradually moving towards more promising segments, such as higher-quality traditional French products and snack foods such as French Sticks (mini-sausages with no casing), which we launched in Working with engineering students from ENSIA in Nancy, our R&D team is also developing charcuterie products made from plant proteins. In addition, we are building our own brands, so that we are less reliant on the volume-focused retailer own brand strategy. Do you operate outside France? P.T.: In 1973, we started exporting to Germany and then other neighbouring countries. In 1979, we moved into the Middle East and North Africa, starting with Lebanon, offering halal and traditional products for European customers in tourist areas. More recently, we have started exporting to Canada and Asian countries (South Korea and Hong Kong), where French charcuterie is very popular. Currently, only 10% of our revenue comes from exports, but they are a major growth area for us. Are you still a family company? P.T.: Yes, although the family in question is now the Trévisan family, not the Berni family. My father Daniel joined the company in 1973 as head of the production site. Through various changes in the ownership structure during the 1990s, he gradually increased his stake in the company. After setting up a food trading company, I joined

4 my father in 2001 as Berni s head of sales, and became chairman in And it looks like the family story will continue into the third generation, because my eldest daughter joined Berni on 1 January 2018 as head of the international business. What role does CM-CIC Investissement play? P.T.: CM-CIC Investissement has been supporting the company for almost 30 years, which is an unusually long time in the investment world. Their people have helped us during reorganisations of the ownership structure, of course, but they have also supported our new strategic direction over the last five years. e20 million of revenue Production of 4,000 tonnes of charcuterie per year 100 employees

5 BERNI as seen by Romain Peiffer, CM-CIC Investissement. Romain Peiffer CM-CIC Investissement has been working with Berni for almost 30 years. Our partnership started in the late 1980s with the formation of a group of companies in the food production sector, including Berni. At the time, Daniel Trévisan, the father of Berni s current head, had only a minority stake in the company, but was already the architect of Berni s development and its main driving force. So in 1997, when the initial transaction was unwound, we naturally wanted to help him take control of the company. In 2003, Daniel Trévisan passed the baton to his son Philippe. Having arrived at Berni in early 2002, Philippe became head of operations and bought shares in the company. Through another transaction in 2008, he became Berni s majority shareholder. CM-CIC Investissement was involved in each of these changes in ownership. Guided by the Trévisan family, the company has grown significantly, with revenue rising from 9 million in 1997 to more than 20 million today. A new generation of the family is now taking its first steps in the company, and CM-CIC Investissement is continuing to help Berni address its main challenges, i.e. adjusting its product range to suit new consumer tastes and expanding abroad. As a shareholder that adds value, CM-CIC Investissement will use its international network and all of its resources to help boost Berni s development outside France.

6 FULLY COMMITTED TO YOU Exploring new territories, aiming higher, going farther... At CM-CIC Investissement, we believe in business leaders who are entrepreneurs. We provide long-term support and equity financing to facilitate the projects of over 400 companies with a range of development objectives, as part of genuine partnerships based on mutual trust. TheLINKS.fr - RCS Nantes B Janvier Crédits photos : Getty Images - BERNI. CM-CIC Investissement - Strasbourg 31, rue Jean Wenger-Valentin Strasbourg Tél Paris Lyon Nantes Bordeaux Lille Strasbourg Montréal Boston New York Francfort Londres Zurich Genève Read more about our current events on Head office 28 avenue de l Opéra PARIS Group Crédit Mutuel-CM11