PARIS — Abenex Capital and L Capital, a private equity fund sponsored by Groupe Arnault and LVMH Moët Hennessy Louis Vuitton, said Tuesday they sold their stakes in Nutrition & Santé to Japan’s Otsuka Pharmaceutical Co. Ltd. Financial terms were not disclosed.

This story first appeared in the January 7, 2009 issue of WWD.  Subscribe Today.

The two investment funds acquired the French firm, which bills itself as the European leader in dietetic and organic foods, from Swiss pharmaceutical group Novartis in 2006 in a leveraged buyout, according to L Capital. Abenex Capital wielded a majority stake.

L Capital owns a majority stake in Piazza Sempione, and also has investments in everything from yachts and restaurants to garden furniture.