ABCD Nutrition

Who owns ABCD Nutrition?

ABCD Nutrition is currently owned by Generis Capital Partners through FPCI Entreprise & Croissance I (2018 vintage), since 2013. Across its history, ABCD Nutrition has been through 3 private equity ownership periods, detailed in the timeline below.

Hand-verified · updated 2026-04-21

About ABCD Nutrition

ABCD Nutrition is a Noyon-based food manufacturer in the Hauts-de-France region that develops, produces and markets gluten-free and organic specialty foods, including biscuits, breads, rusks and other everyday staples reformulated without gluten. Operating since 2009, it has grown into one of the two largest gluten-free players in France, selling through mainstream grocery retail, specialist organic and health-food stores, export markets and food service. Its products reach shelves under a portfolio of brands, among them Celiane (Les Recettes de Celiane), Viadelice and the organic ranges Naten and Biothentic. According to sponsor and press disclosures, the company generated revenue of about EUR 22 million in 2015 with roughly 135 employees, rising to more than EUR 35 million by 2019 with around 150 staff. It positions itself as a pioneer of the category in France, extending its customer base from celiac patients toward the broader gluten-sensitive and health-conscious market.

Ownership journey

The business traces its roots to founder Bruno Pierre, a pioneer of gluten-free food in France who launched an earlier venture in the Compiegne area before building ABCD Nutrition, later led alongside Christophe Fontaine. Generis Capital Partners first backed the company in 2013, taking a minority growth stake to support its expansion in a fast-growing specialty-food niche. In 2017 the shareholder base broadened as Picardie Investissement and Societe Generale Capital Partenaires invested alongside the existing backers, with Societe Generale Capital Partenaires adding a further round in 2018 to fund the group's industrial build-out. These are minority, growth-capital positions rather than control buyouts, with the founder and management remaining central to the business. As of the latest available sponsor disclosures the company was still held in portfolio, with no exit or secondary transaction recorded.

Under PE ownership

The successive funding rounds were earmarked for an ambitious industrial program, as demand outpaced the company's early Picardy facilities and pushed existing lines to three-shift operation. Under the investment ABCD Nutrition expanded capacity substantially, adding production capability and a further manufacturing site to meet rising volumes and to more than expand its workforce. Revenue advanced at roughly 30 percent a year through the mid-2010s, climbing from about EUR 22 million in 2015 toward more than EUR 35 million by 2019. Over the same period the group widened its range beyond core gluten-free lines into organic products, developing dedicated brands and distribution across retail, specialist stores and export channels. The result was a broader, more industrialized platform serving mainstream and specialist buyers rather than a niche celiac clientele alone.