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A&O Shearman advises Naxicap Partners on its majority investment in Bharal Développement

A&O Shearman advises Naxicap Partners on its majority investment in Bharal Développement
Published Date
Oct 22, 2026
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Image of Marc Castagnede
Marc CastagnedePartner, Paris
Image of Thomas Roy
Thomas RoyPartner, Paris
Image of Christos Ierna
Christos IernaSenior Associate, Paris
Image of Marie Amelie Vieuille
Marie Amelie VieuilleAssociate, Paris
Image of Jonas Brucker
Jonas BruckerSenior Associate, Paris
Image of Ageu Pires
Ageu PiresSenior Associate, Paris
A&O Shearman advised Naxicap Partners, a private equity firm, on its acquisition from FrenchFood Capital of a majority stake in Bharal Développement, the parent company of Difagri, Alinova, and Dietagro.

Following completion of the transaction, Naxicap Partners becomes the group's majority shareholder. It invested alongside the management team led by Cédric de Boulogne, chairman and chief executive officer, and minority investors Sodero and BNP Développement. 

Naxicap Partners' investment aims to support the group in a new phase of growth. The plan is to continue the group's organic growth and expand its international operations, notably through targeted acquisitions. 

Founded in 1973 and headquartered in the Vendée region of France, the group specializes in formulating and manufacturing nutritional and dietary specialty products for livestock. It markets more than 4,000 products and operates three production sites in western France. 

“We are delighted to have advised Naxicap Partners on this transaction. It illustrates investors' sustained interest in French companies with recognized industrial expertise and significant growth potential.”

The A&O Shearman team was led by partner Marc Castagnède with senior associate Christos Ierna and associates Marie-Amélie Vieuille and Yahn van Kalck on corporate/M&A aspects. Partner Thomas Roy and senior associate Jonas Brucker advised on financing aspects while partner Charles Del Valle and senior associate Ageu Pirès advised on tax aspects. 

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