Cheef has completed a minority LBO with Indigo Capital
March 2025 — Indigo Capital has successfully completed a minority leveraged buyout (LBO) of Cheef, acquiring a minority stake alongside the existing family shareholders.
Launched in 2020, Cheef is a French direct-to-consumer (D2C) brand specializing in the design, production, marketing and distribution of healthy meals, snacks and food supplements. Offering one of the most extensive, flexible and affordable wellness and weight-loss ready meal ranges on the French market, Cheef provides over 250 recipes through tailored subscription plans. With the expertise of a two-star chef for recipe creation and full control over production of its fresh meal range in a dedicated in-house kitchen, Cheef maintains strong control over its value chain. It operates a modern 5,800 square meter production facility, launched in 2023, which includes a 1,000 square meter kitchen. The company has experienced strong growth, with revenue increasing by four times between 2021 and 2024.
Indigo Capital is an independent investment firm, majority-owned by its investment team. Originally based in Paris, the firm also has offices in Milan and Lyon. The team has completed more than 70 transactions involving capital restructurings and growth financing, working alongside founders, families and industrial groups.
Our role in the transaction
Oaklins’ team in France advised Cheef and facilitated its minority LBO with Indigo Capital.
Talk to the deal team
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