Industri Kapital, the Nordic buy-out manager, has added to its recent string of exits with the €332.3m ($425m) sale of its controlling stake in the Labyeyrie Group, the French seafood, blini and spreadable products manufacturer.

The sale to SÍF, the European food producer listed on the Reykjavik stock exchange, is the largest consumer products acquisition in Icelandic history, according to sources close to the private equity firm.