Sagard, a French investment fund, completed the acquisition of Novepan, a manufacturer of frozen premium and specialty breads, snacks and pizza dough, from Azulis Capital, one of the main private equity players in the lower midcap segment in France. Financial terms were not disclosed. "Our performance relies on our ability to provide an enhanced customer experience and better use-case to retailers using bake-off products, as well as on our true innovation culture and proximity with our longstanding clients. This new partnership with Sagard will clearly help us to accelerate our development," Jean-Manuel Lévêque, Novepan CEO.