German Equity Partners III, ECM Equity Capital's private equity fund, is selling most of its shares in KAGI AG, Switzerland-based producer and distributor of frozen food, to German private equity firm Paragon Partners. All parties involved in the deal agreed to not release any of the financial details involving the said partnership.

KADI, according to sources, is intending to continue its growth by adding the frozen products company to its successful high-quality potato production and distribution. KADI operates mainly in the Swiss restaurant industry. KADI previously posted CHF66 million worth of sales.

Chief Executive Officer of KADI Patrick Sievi, said that "based on its innovative and high quality products and the financial and strategic support of our majority shareholder, KADI was able to successfully expand its leading market position in the Swiss foodservice sector. The achievements speak for themselves: Over the past five years we have grown operating results (EBITA) by more than 50 percent and have made significant investments into our production as well as productivity improvements."