Group news / Group secures a foothold in inclusive housing for the elderly

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Monday, 11 March 2024

Group secures a foothold in inclusive housing for the elderly

Crédit Agricole Santé et Territoires and ten Regional Banks* recently acquired an equity stake in CetteFamille, a major player in inclusive housing for the elderly in France. CetteFamille runs small shared living facilities for elderly people in areas all over mainland France.

The Normandy Regional Bank has been building a relationship with this Orne-based social economy enterprise for over two years. Won over by the firm’s commitment to making a difference in local communities, the Normandy Regional Bank and CAST shared its model around the Group, paving the way for this transaction.

With the number of over-75s set to grow 35% between now and 2030, CetteFamille’s facilities are designed to fall somewhere between fully independent living in one’s own home and nursing home care, enabling residents to still feel at home but with additional support on hand.

In keeping with Crédit Agricole Santé et Territoires’s strategy of supporting an ageing population, the goal is to help CetteFamille grow by drawing on the Regional Banks’ strong local presence in their regions. Through this partnership, which encompasses both an equity relationship and operational input, the aim is to grow from 40 facilities in 2023 to 440 in 2028.
CetteFamille appointed Crédit Agricole Midcap Advisors to orchestrate this equity transaction.

* The following Regional Banks participated in the equity investment: Normandy, Nord de France, Charente-Périgord, Anjou Maine, Normandie-Seine, Centre Loire, Touraine Poitou, Centre France, Val de France and Ile-de-France.

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Source: Les Échos

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