Bridgepoint buys and sells(2)

European private equity firm Bridgepoint has made its second German investment of 2007 and has sold one of its portfolio companies.

Bridgepoint has bought a majority stake in Dragenopharm, a German contract manufacturing organisation for the European generic prescription drug market, for an undisclosed amount.

 

Headquartered in Bavaria, Dragenopharm generated sales of about €68 million in 2006.

 

The firm has also sold WT Foods, a UK-based ethnic and speciality foods supplier, to Caribbean-listed company GraceKennedy for an undisclosed amount. WT Foods has annual sales of about £60 million.

 

Bridgepoint had already sold Noon Products, a division of WT Foods, to quoted food company Kerry Group for £124 million in August 2005.

 

The private equity firm bought Rodenstock, a German manufacturer of lenses and frames, in December.