Ogeu Group

The two-hundred year old family group is opening its capital for the first time to Crédit Mutuel Equity, and Pyrénées Gascogne Développement, with a view to supporting its growth in France and abroad and to strengthen its investments to meet the environmental challenges facing the sector.

The fourth largest player in bottled water in France and leader in the regional water market, the Ogeu Group today boasts a turnover of €80 million and employs 250 people.

The story began in 1820, in the heart of the Pyrenees, with the creation of a thermal spring complex followed by the construction of a bottling site. The company, based in Ogeu-les-Bains, is still owned by members of the founding family. After being appointed CEO of the company in 2009, Jean-Hervé Chassaigne decided to upscale operations in a market dominated by Danone, Nestlé Waters and Neptune. He successfully carried out external growth operations, with the acquisition of brands with strong regional identities, such as Plancoët, Chevreuse (renamed "Lutecia" in mid-2020), and Quézac, which completed the Group's portfolio (Ogeu and Sainte-Baume in particular).

Ogeu is also committed to a CSR approach: the life cycle of packaging with the progressive deployment of rPET/BioPET, the development of recyclable glass bottles and aluminium cans, and the responsible management of resources.

By focusing on product innovation and a few targeted acquisitions, the Béarn-based company has recently diversified into flavoured waters, soft drinks and beer. It completed the acquisition of "Brasseries des Pyrénées" which operates three regional brands (Sarriat, Hapchot and Belharra), and last June it took over a regional energy drinks company. Jean-Hervé Chassaigne hopes to strengthen its presence in the non-domestic catering markets in the coming years and develop its export sales, particularly in Asia where the Group has just announced the opening of an office in Tokyo in September 2020.

This financing operation complements the support provided by the Group's banking partners, notably CIC Sud-Ouest and Crédit Agricole Pyrénées Gascogne.

" We have chosen partners to suit our needs: Crédit Mutuel Equity, supported by Pyrénées Gascogne Développement, is a local partner with a team in Bordeaux but with a national and international reach, enabling us to benefit from its qualified expertise in supporting mid-sized companies. In addition, Crédit Mutuel Equity has been able to develop a substantial portfolio of companies, notably in the agri-food sector, and facilitates contacts within its portfolio, which provides an additional service, " explains Jean-Hervé Chassaigne, CEO of Ogeu. " The entry of investors with the know-how to accompany companies over time gives us more flexibility to drive our growth, which is based on a strategy of organic development – we are planning major industrial investments – and external growth ".

" Crédit Mutuel Equity is delighted to support this family-owned company which has managed to reach the top four of the highly challenging bottled water market under the impetus of its management duo, Jean-Hervé Chassaigne and Pascale Lapassade, supported by a solid team of experienced executives. The commitment of the Group and its teams to issues of CSR and sustainable development is a core and unifying element to which we are fully signed up, and which we wish to support. A number of initiatives have been taken, as illustrated by the launch of the new Lutecia brand, whose bottles are 100% recyclable and 30% plant-based, " add Antoine Arlet and Florent Lecomte, Principals at Crédit Mutuel Equity.

" The Ogeu project brings together themes that are dear to Pyrénées Gascogne Développement: the promotion of regional know-how and brands, long-term support for family businesses, and innovation in response to changing consumer trends. Ogeu stands out for its agility, its strong territorial roots, and its national and international dynamics, " add Denis Vilarinho and Jean Michel Mindeguia for Pyrénées Gascogne Développement.

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