UGGC & Associés legal counsel to CM-CIC Capital Privé and Avenir Entreprise for the build up the capital of Pierre Hermé

UGGC & Associés acted as legal counsel to CM-CIC Capital Privé and Avenir Entreprise for their contribution to the capital of confectioner and chocolate maker Pierre Hermé. Founded by Charles Znaty and Pierre Hermé and launched in 1996, Pierre Hermé Paris owns four shops in Paris and has created a network of seven franchised establishments in Tokyo. With a staff of 130 people, including employees at their Alsatian manufacture, Pierre Hermé reaches a turnover of over EUR 10 million. CM-CIC Capital Privé, a subsidiary of CIC Finance, is the company managing FCPIs (Fonds Communs de Placement dans l'Innovation) and FIPs (Fonds d'Investissements de Proximité) of Groupe Crédit Mutuel - CIC (CM-CIC). It is essentially concerned with unlisted PMEs (small to medium-sized companies), which have proven the relevance of their positioning on their respective markets. It is an independent management company approved by the Autorité des Marchés Financiers (financial markets authority), managing assets worth EUR 350m in 2009. Avenir Entreprise is a subsidiary of CDC Entreprises and OSEO Financement & Garantie. The terms of this transaction are just as confidential as the recipes of the famous confectioner and chocolate maker, of which founders Charles Zany and Pierre Hermé keep full control. On the other hand, what these funds will used for is no secret; they will finance the opening of around ten fully owned shops in regional European capitals within the next three years. CM-CIC Capital Privé and Avenir Entreprise were represented by Pascal Squercioni, partner, and Natalia Toribio, associate of UGGC & Associés.