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A strategic, financial partnership to drive development at groupe Tournaire

Tournaire, the longstanding leader in industrial barrier packaging, is delighted to announce that Motion Equity Partners has taken out a majority stake in the company, alongside the founding family, to set the firm’s sights ever higher while maintaining its very strong identity, values, independence and the strengths that have made it a success.

 

Additional means to boost growth

The European leader for premium packaging solutions in aluminium monobloc, Tournaire is enjoying steadily-increasing turnover in excess of 90 million euros, and now wishes to boost its development even further. On the eve of Tournaire’s 190th anniversary, the family shareholders’ intention is to secure the extra resources needed to seize feasible growth and development opportunities. In order to continue to cater to the growing needs of customers on especially brisk markets, while holding on to a significant share of the capital, the family shareholders have decided to strike up a strategic and financial partnership with Motion Equity Partners, a French capital investment firm with a strong entrepreneurial culture.

 

An ambitious development plan for the coming years

Opening up the capital in this manner is an opportunity for the management team to gear up to achieve greater growth. The aim for the coming years is thus to consolidate  Tournaire’s leading position in its established markets in Europe, boost development abroad, gain a footing in new, high-potential markets, buttress its industrial assets and its commitments to protect the environment, while continuing to provide its customers with excellent service.

“This project is a great opportunity to step up our organisation and shareholdership via a lasting partnership with a professional shareholder, and scale up our achievements, while remaining true to our values, independence and the strengths that have made our firm a success. This operation will give Tournaire the chance to expand and invest yet further in innovation and its industrial facilities,” explained Jeanne Lions, President of Tournaire.

 

Motion Equity Partners, a spot-on choice

Motion Equity Partners is well-accustomed to handling this type of project, and as a result was unanimously chosen by all longstanding shareholders as their long-term strategic and financial partner. Motion Equity Partners is a major, independent player in capital investment in France and Europe, providing support for top French firms with great potential, alongside the families and managerial teams aiming to expand their firm. As well-rounded experts in the packaging industry, Tournaire’s customer base and markets, Motion Equity Partners will share their know-how to help the management team as they hone and implement their ambitious growth strategy.

Jeanne Lions, President of the Tournaire group, shared that “Motion Equity Partners has ambitious plans for Groupe Tournaire, taking a long-term approach. They soon gained valuable insights into the firm and its markets, convincing us that our choice of strategic partner was spot-on”.

Patrick Eisenchteter and Anthony Baudoin, Associates at Motion Equity Partners stated that “We are especially proud to be supporting Tournaire in this next stage of development alongside the founding family. As a shining example of French manufacturing, Tournaire has set the benchmark for speciality packaging, offering solutions endorsed by its customers. Drawing on our experience in renewable packaging, we will be charting a far-reaching course, leveraging our rich experience and strong corporate values”.

 

About Groupe Tournaire

Founded in 1833, Tournaire was among the first distillers of perfume plants established in Grasse. It now harnesses savoir-faire accumulated over the course of nearly two centuries to produce and market high-performance industrial packaging, mainly in aluminium, for samples, storage and the shipping of premium materials (ingredients & active ingredients, solvents, aromas, essential oils etc.). Tournaire has a diversified portfolio of over 900 clients operating in resilient, promising industries such as pharmaceuticals, aromas and perfume, ingredients, fine chemicals and agrochemicals. Long established in Grasse, the world capital for perfume, Tournaire has its main production plant there, leveraging unique industry knowledge. The firm also has another plant in Fragnes in the east of France, which specialises in producing high-performance plastic packaging, and sales subsidiaries in the US and Vietnam. Tournaire markets its solutions in 80 countries and has a payroll of nearly 300 employees. In 2021, the group posted turnover in excess of €90 million.

 

About Motion Equity Partners

With over 25 years’ experience supporting mid-market companies in France and abroad, collaborating alongside their management teams, Motion Equity Partners has forged a great reputation in capital investment. As an independent entity with €1 billion in assets under management, Motion Equity Partners deploys a seasoned team with a strong entrepreneurial spirit, with a track record of over 50 capital investment operations in France and abroad. Motion Equity Partners has supported the development of 17+ small and mid-market companies and has gained sound experience and know-how in industries such as renewable packaging, health and nutrition, supporting companies such as Omni-Pac Group (European leaders on the market for moulded fibre packaging), Olmix (world specialists for natural farming solutions) EA Pharma (pharmaceutical firm specialising in oligotherapy, nutrition and health) and Diana Ingrédients (world supplier of innovative natural ingredients).

Motion Equity Partners is a responsible, experienced investor with a commitment to sustainable development. As a capital investor in small and medium sized companies, Motion Equity Partners has always made responsible shareholdership a strict requirement. Reconciling economic development, social progress and the need to reduce our environmental footprint is indispensable to the development of a prosperous, sound economy.

Find out more on: www.motionequitypartners.com

 

Press Officer: Sylvie Poillevé, L’ambassade

Sylvie Poillevé : sylvie.poilleve@lambassade.agency – +33 (0)6 69 46 59 24

TOURNAIRE’s qualities: product quality and sense of service

Interview of Philippe Gladieux, Supply Chain Director at Argeville

Would you like to introduce yourself and your activity?

My name is Philippe Gladieux, I am Supply Chain Director at Argeville, a Grasse-based company specialising in fragrant compositions, food flavours and ingredients. We’re a family-run company and we celebrated our centenary last year.

 

Why are you here?

Because TOURNAIRE has been a partner of Argeville for a long time. We have always had a very good relationship with TOURNAIRE and we really appreciate the quality of its services, its innovation and the quality of its products.

 

Is packaging strategic to protect your sensitive materials?

80 to 85% of our turnover comes from exports, from large-scale exports. Mainly air transport. So, it is essential to have this transport safety and the preservation of our products throughout the world.

 

What image do TOURNAIRE aluminiums have with your export customers?

TOURNAIRE aluminiums are the standard for our customers, in every respect. Both on the European and international markets.

 

What do you think of the new products in the TOURNAIRE range?

The OMNI PLUS range is very attractive. It is still under review with us. We are going to study the scheduling to switch the current standard range to the OMNI PLUS range. What we find very attractive is the recyclability of the solution we are being offered. 

The TOURNAIRE ‘estagnon’, the emblem of Fragonard

Interview of  Françoise Fabre, General Manager of Fragonard

Would you like to introduce yourself and your activity?

I am Françoise Fabre, and I direct Fragonard, a company created in 1926, which is now run by the great, great grand-daughters of the creator Eugène Fuchs. We are Anne, Agnès and Françoise Costa, the fourth generation. Historically, Fragonard has mainly manufactured perfumes and subsequently we have developed extensive ranges of cosmetics, eaux de toilettes, and for some years now a whole universe based on the art of living in Provence, hence fashion, articles for the home and products that we brought back from our travels, particularly in India. It’s a country that has always been very close to Provence and which is part of our culture.

Why are you here?

We have come today with a whole team from our company to see the evolution of TOURNAIRE, a magnificent company with which we have maintained a relationship of loyalty and friendship. We know the products we buy but certainly not the production tool. We were astonished by the investment, the quality of the machines, the technologies that I could not even have imagined. And then the possibilities of customisation. Moreover, we are currently working to improve a product which is an emblematic product of Fragonard: a small metal canister, or ‘estagnon’. Perhaps we are the last company to use the name ‘estagnon’, but it is an important name for us. It is part of the history of Grasse and our common history with TOURNAIRE.

What are the challenges you face when it comes to packaging your fragrances?

We have products that have always been refillable. This was not the market trend 20 years ago. Everyone was using crimped products. We have always been keen to offer our customers refillable products and we buy 600ml refills from TOURNAIRE which are refills that no one else on the market does today. The sizes of Fragonard perfumes are 100ml, 200ml and 600ml in aluminium refills. It is certain that we all have the same objectives, namely, to have products that have the least impact on the planet and that are recyclable and refillable. That’s what’s at stake.

What advice would you give to a company looking for barrier packaging to protect its sensitive products?

In our business, which is a niche perfumery business, the use of aluminium is atypical. Generally speaking, companies use glass. We work a lot on the weight of the glass, the bottoms of the bottles, the luxury with the transparency that glass gives. It’s a real challenge to use aluminium to sell perfumes. This is our case, it is emblematic, the ‘estagnon’ is really the flagship of Fragonard. I don’t know if it can be duplicated that easily in terms of the finished product for a client. As far as refills are concerned, for all the products that are used in larger quantities, aluminium has an extraordinary added value. In terms of product quality, because it can be recycled very easily, because it does not pollute, it does not break, and because it is impervious to light and heat. These are all features that we have consistently valued in this product.

OMNI PLUS, a real innovation

Interview of Christian Ortega, Vice-President of the Pays de Grasse agglomeration community in charge of economic development

Would you like to introduce yourself?

I am the Mayor of La Roquette-sur-Siagne and Vice-President of the Pays de Grasse agglomeration community in charge of economic development.

What does TOURNAIRE represent in the Grasse ecosystem?

This fine company TOURNAIRE, which I have the honour of being able to visit this evening, embodies the history of Grasse and hence the prospects of Grasse, naturally. With decades of good management, it has proven its ability to adapt to circumstances and to the solutions that need to be designed for the future.

What have you been able to draw from this event?

During this visit, we were able to see all the OMNI PLUS developments. Success cannot be achieved if there is no real ambition. This ambition must also be supported by funding. Over the last few years, this has amounted to ten million euros. OMNI PLUS production has been a real innovation for the clientele, who are loyal to the company. But to achieve loyalty, you have to offer new solutions and adapt to customer demands. You have to be sure that the product is really adapted to what the customer is going to market here in Europe and throughout the world.

A word for the industrialists of the Grasse region?

I’m here as Vice-President of the Pays de Grasse agglomeration community in charge of economic development, and I must say that we’re fortunate in our region in having the Mayor of Grasse, Mr. Jérôme Viaud, as President of the agglomeration community. He has always understood that the economy of the businesses in the Maritime Alps – and in particular in his region – is essential for success. The communities, the municipalities, the town halls, and others are not producers of funds: they use the money that has been granted to them by the quality of the businesses and services on our territory.

French excellence, the future of our economy for the growth of the territories

Industry in France has regained real enthusiasm and a new dynamic thanks to a transformation of consumer trends but also to the recent strong support of public authorities. TOURNAIRE, like any heritage company, represents a part of French know-how.  For many years, even in less favorable times, it is often the family-owned industrial companies that have defended their raison d’être to develop and perpetuate their activities at both regional and international levels, thus enabling this new dynamic.

Recently, several events have given concrete expression to this desire to promote “Made in France” to consumers, French and foreign buyers: “The Great Made In France Exhibition” which took place at the Elysée Palace on January 18 and 19, 2020, or the “Choose France” summit with more than 200 business leaders in Versailles.

This new impetus for the excellence of “Made in France” is the result and recognition of the long work of developing quality, innovation and transformation of French industries.

French excellence is appreciated by the French: “Companies prefer quality and know-how, consumers prefer employment and local production”, according to Les Echos of April 6, 2021 in its conclusion of the study on “Made in France” by Opinionway. Industrialists have succeeded in generating attachment to businesses in our territories among all those involved.

This ‘French’ quality is at the heart of the entire value creation chain at TOURNAIRE: from the initial sales advice to after-sales service, from production to delivery to the worldwide sales network. TOURNAIRE has developed its own metallurgy and surface treatment technologies in-house, which allow for the optimal production of its monobloc aluminium packaging. Its recently modernized quality laboratory accompanies the development of new products and ensures the quality of the production of existing packaging.

French excellence: a school with a long tradition and a culture of ‘le bel objet’.

Our rich cultural and industrial heritage has long made France the undisputed leader in ‘le bel objet’ (‘the beautiful object’) and the ‘art de vivre’ (‘art of living’).

French luxury manufacturers export to more than 180 countries. No other nation has such an influence, not even Switzerland or Italy (just behind). The French excellence that is praised commercially often obscures the changes and investments that manufacturers have made to improve their competitiveness in the face of increasing low-cost competition from Asian countries. It is a real challenge to increase its competitiveness, to invest in its production tool, while preserving product innovations and strengthening its brand. This is the challenge that TOURNAIRE has been meeting since 1833.

Indeed, French excellence for TOURNAIRE, in addition to meeting the increasingly strict regulatory requirements, is a foundation of the values of the company and its brand. The TOURNAIRE brand is thus synonymous with quality and serenity for its customers. This culture is carried by the Internal School ensuring the transmission of the company’s specific know-how. This has enabled TOURNAIRE to accompany its customers in more than 80 countries and to contribute for almost 190 years to the worldwide reputation of quality ‘à la Française’.

French excellence also means creativity, engineering and high-end products.

France excels in agriculture and agri-food, gastronomy, nuclear power, waste and water recycling, construction, transportation equipment manufacturers, armaments, aerospace, optics, chemicals, cosmetics, pharmaceuticals, perfumes, haute couture, and luxury goods. The two characteristic foundations of French excellence common to these industries are creativity and engineering.

TOURNAIRE is proud to showcase throughout the world countless products of French know-how in food, cosmetics, chemicals, pharmaceuticals, and the luxury goods that have made our territory in the Grasse region famous throughout the world: aromas and perfumes.

“In 2014, France reported a trade surplus for exports of aircraft and spacecraft, perfumes and cosmetics, its food industry and agricultural products, and in the field of waste management. The chemical industry is the second largest trade surplus (€9.4 billion) after aeronautics (€22 billion).”  

 

French excellence: the image of the very high end carried by the world of luxury.

France traditionally enjoys an enviable image because it is spontaneously associated with the world of luxury. This is the result of France’s history, which has seen the birth of the world’s most powerful luxury brands. These houses represent no less than a quarter of the world market. Out of 270 prestigious brands, 130 are French (Ministry of Economy figures). This is another matter of creativity, quality, and engineering. TOURNAIRE has, for almost two centuries now, been working with these major players in the world of luxury.

This luxury sector has trickled down to many other French industries, from small and medium-sized companies to large corporations.  For the perfume sector, it is in Grasse, the world capital of perfumery and the birthplace of Tournaire, that the majority of the players in this high-level industry can be found.

France is also about industrial excellence.

France is a land of industry. This is what emerges from the BPIFRANCE Lab study (April 2020): “85% of the industrial SMEs surveyed have their production sites in France. 25% of them even declare themselves to be ‘100% made in France’ (with only French production and supplies).

The manufacturing industry generates €223 billion in added value. This represents 10.2% of French GDP (source: Insee data 2015). It employs 2.815 million people, which represents 11.1% of total French salaried employment (source: Insee 2015 data).

France is the 7th largest industrial power in the world and the 3rd largest industrial power in Europe, just behind Germany and Italy. Manufacturing exports generate 436.4 billion euros (source: Customs, 2017 data) and represent 3.5% of global exports (source: WTO 2017). There are 213,303 industrial companies.

France, the leading country for international investors.

According to the: “study of values associated with ‘Made in France’ by the General Directorate for Competitiveness of Industry and Services (2015)”, France continues to attract foreign manufacturers. France even ranks first in Europe for investment in production sites by foreign-owned companies, ahead of Germany! A more recent study shows that France has become the leading European destination for foreign investment in industry and R&D (source: Le Figaro – 20/01/2020).

French excellence: also a matter of territory.

French excellence helps to accelerate the reindustrialization of our territories, to develop local jobs and their economy. For some, it also helps reduce the carbon footprint to better fight against global warming. As Emmanuel Macron, President of the French Republic, said in his speech at the ‘Great Made In France Exhibition’: “Beyond promoting our know-how, it is a question of promoting a committed mode of consumption. Consuming French is an act of commitment to ecology (short circuit, reduction of our carbon footprint) and to the economy (supporting our workers and their territories). By choosing a product made in France and not made elsewhere, you have the power to support your country, your economy, your jobs, and your fight for ecology.”

The TOURNAIRE control and testing laboratory

TOURNAIRE’s ambition is to constantly innovate in order to push back the technical limits in processes and materials in order to offer its customers the most efficient solutions on the market.

In pictures, our control and testing laboratory inaugurated in 2020. A more autonomous laboratory with more efficient equipment in an ever cleaner environment.

3 missions :
– Monitoring the quality of manufactured products, validation tests on the functionality of closures, leakage tests or cleanliness characterization.
– Support for the Design Office. A Design Office that develops ever more efficient packaging, adapted to the needs of our customers.
– Support to customers for their various problems. Whether it is chemical compatibility tests or problems that they may have internally, we assist them in solving these diverse and varied problems.

The TOURNAIRE ‘estagnon’, the emblem of Fragonard

Interview of Françoise Fabre, Executive director of Fragonard

Would you like to introduce yourself and your activity?

I am Françoise Fabre, and I direct Fragonard, a company created in 1926, which is now run by the great, great grand-daughters of the creator Eugène Fuchs. We are Anne, Agnès and Françoise Costa, the fourth generation.

Historically, Fragonard has mainly manufactured perfumes and subsequently we have developed extensive ranges of cosmetics, eaux de toilettes, and for some years now a whole universe based on the art of living in Provence, hence fashion, articles for the home and products that we brought back from our travels, particularly in India. It’s a country that has always been very close to Provence and which is part of our culture.

 

Why are you here?

We have come today with a whole team from our company to see the evolution of TOURNAIRE, a magnificent company with which we have maintained a relationship of loyalty and friendship. We know the products we buy but certainly not the production tool. We were astonished by the investment, the quality of the machines, the technologies that I could not even have imagined. And then the possibilities of customisation. Moreover, we are currently working to improve a product which is an emblematic product of Fragonard: a small metal canister, or ‘estagnon’. Perhaps we are the last company to use the name ‘estagnon’, but it is an important name for us. It is part of the history of Grasse and our common history with TOURNAIRE. 

 

What are the challenges you face when it comes to packaging your fragrances?

We have products that have always been refillable. This was not the market trend 20 years ago. Everyone was using crimped products. We have always been keen to offer our customers refillable products and we buy 600ml refills from TOURNAIRE which are refills that no one else on the market does today. The sizes of Fragonard perfumes are 100ml, 200ml and 600ml in aluminium refills. It is certain that we all have the same objectives, namely, to have products that have the least impact on the planet and that are recyclable and refillable. That’s what’s at stake.

 

What advice would you give to a company looking for barrier packaging to protect its sensitive products?

In our business, which is a niche perfumery business, the use of aluminium is atypical. Generally speaking, companies use glass. We work a lot on the weight of the glass, the bottoms of the bottles, the luxury with the transparency that glass gives. It’s a real challenge to use aluminium to sell perfumes. This is our case, it is emblematic, the ‘estagnon’ is really the flagship of Fragonard. I don’t know if it can be duplicated that easily in terms of the finished product for a client. As far as refills are concerned, for all the products that are used in larger quantities, aluminium has an extraordinary added value. In terms of product quality, because it can be recycled very easily, because it does not pollute, it does not break, and because it is impervious to light and heat. These are all features that we have consistently valued in this product.

Issues and challenges for TOURNAIRE in 2022

Interview of Jeanne Lions, Chairman of the Board et Laurent Zeller, Member of the Board

What are the challenges for TOURNAIRE to better respond to customer demands?

Jeanne Lions: We have several challenges ahead of us, many of them, but also some very exciting ones. Firstly, to maintain our presence in Grasse and our industrial role and that of leader in the packaging market and to promote our technological capacity for innovation. This is our fundamental challenge. Beyond that, today we have to face a challenge in relation to the economic situation which is very difficult due to the shortage of raw materials and the rise in raw material prices. We have to demonstrate a completely new agility in a completely new context, and we have to react to serve our customers in the best possible way without endangering the company. And finally, for me, one of the most rewarding and motivating challenges is knowing how to work with all our teams. Knowing how to help them grow and how to promote them.

Laurent Zeller: When people talk to me about innovation, I have to say that our role at Tournaire is to anticipate and to be relevant, especially because we are industrialists with a long-term vision. So, if I had to name the major challenges for the next twenty years, I would name two. The first is recyclability, obviously. What we are seeing in the consumer business is now affecting the industrial world, which is quite normal. The second is traceability, everything that revolves around blockchain and protection against counterfeiting.

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