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IBL Together logo, group and partner to invest in Mauritius and Africa
From the day we are born, togetherness is a vital component of our lives.
From the day we are born, togetherness is a vital component of our lives.
Together with our parents and family, we start our
life journey, feeling secure, dreaming, planning and developing our
ideas. With vision and determination,
we can change the world.
On this exciting journey we often need others.
To enhance our talents and strengths, to introduce complementary
attributes and ideas, to work together
to amplify our offering to ensure the ultimate success
of our ambitions.
Success can be measured in many ways – financial, practical,
emotional. It also reflects the way we care for the people we work with,
how we protect our environment, how we look after the less fortunate,
how we merge
a wide variety of business cultures and sectors.
We can try to do this on our own,
but when we work together to achieve our goals,
we can really make them happen.

IBL Together


Creating a brighter future for all.


As a diverse and responsible corporate citizen, we enhance the talent of our people and inspire them to better serve our stakeholders in a trustful, open and efficient way.


People 1st, Passion, Integrity, Excellence, Responsibility and Creativity.

Good governance

Arnaud Lagesse

Group CEO of IBL Ltd, Arnaud Lagesse started his career at GML in 1995 as Financial and Administrative Director, before being appointed Chief Executive Officer in August 2005. He holds a Master’s in Management from the Université d’Aix-Marseille and graduated from the Institut Supérieur de Gestion de Paris. He attended a Professional Development Program at INSEAD, Fontainebleau (France) and an Advanced Management Program (AMP180) from Harvard Business School, United States.

Mr Lagesse is a member of the Board of Directors of several of the country’s major companies listed on the Stock Exchange of Mauritius. He is President of the National Committee on Corporate Governance in Mauritius, and was President of the Chamber of Agriculture, of the Mauritius Sugar Producers’ Association and of the Sugar Industry Pension Fund. Mr Lagesse is the Chairman of Fondation Joseph Lagesse since July 2012.

Gilles Michel

Gilles Michel is the Chairman and Chief Executive Officer of the Imerys Group, which he joined in September 2010. He is a graduate of Ecole Polytechnique, of Ecole Nationale de la Statistique et de l’Administration Economique (ENSAE) and of Institut d’Etudes Politiques (IEP), Paris. He started his career in 1982 at the World Bank in Washington D.C. In 1986, he joined the Groupe Saint-Gobain and as from 2000, held the position of Chairman of the “Céramiques & Plastiques” branch. In 2001, he moved to the PSA Peugeot- Citroën Group and was a member of the Executive Committee of Peugeot Citroën PSA until 2007 before becoming a member of the Board. In December 2008, Gilles Michel was appointed CEO of the “Fonds Stratégique d’Investissement (FSI)”, France, before rejoining the Imerys Group.

Jean-Pierre Lagesse

Jean Pierre Lagesse holds a Master’s in Business Administration from Cranfield School of Management and specialises in land development. As one of the partners of 10 Ant Group since 2007, he is responsible for the purchase and redevelopment of real estate in Great Britain, where he has 24 years of experience in the sector, as well as in Europe and Africa.

Martine de Fleuriot de La Colinière

Martine de Fleuriot de La Colinière
Martine de Fleuriot de La Colinière heads the Commercial, Corporate and Banking department of ENSafrica (Mauritius), the largest law firm in Mauritius. She is a Barrister of experience and recognised as a leading lawyer by international directories such as Chambers and Partners and Legal 500. She holds a « Diplôme d’Etudes Approfondies, mention Droit Privé » from the « Université de Droit, d’Economie & des Sciences Sociales d’Aix-Marseille III ». She specialises in M&A, corporate structuring, banking and security law. Martine de Fleuriot de la Colinière regularly assists major multinationals, global elite international law firms and lending institutions in cross-border transactions, investments and joint ventures into India or Africa.

Jean-Claude Harel

Jean-Claude Harel holds a Technicien Superieur Diploma in sugar technology from the Mauritius College of Agriculture.

Pierre Guenant

Pierre Guenant is the founder of the PGA Group, the leading car dealership in Europe, particularly present in France, Holland and Poland. Starting as a small French car dealership, the Group now employs 10,000 people with a turnover of over €4bn. Chairman of PGA Holding, Mr Guenant is now involved in the field of distribution of public works equipment, the hotel and wine industry and investment funds. He began his career in the Jacobs/Jacques Vabre Group before joining the Heuliez Group where he was Commercial Director, Plant Manager and General Manager. He holds a diploma from L’Ecole Supérieure de Commerce de Paris.

Thierry Lagesse

Thierry Lagesse holds a “Maîtrise des Sciences de Gestion” from the University of Paris Dauphine. He is the founder and Executive Chairman of the Palmar Group of Companies, an international manufacturer in the textile and clothing sector. He is also the Executive Chairman of Parabole Réunion SA, a satellite television company broadcasting in the Indian Ocean islands.

Yann Duchesne

Group CEO – Operations of IBL Ltd, Yann Duchesne has over thirty years’ experience in international consulting and fund management firms. He graduated from Ecole Polytechnique, Ecole des Mines de Paris and Institut d’Etudes Politiques de Paris and worked at McKinsey as the Managing Partner of the French Office. Mr Duchesne has worked as a consultant in the United States, Japan and a number of European countries. Before joining IBL Ltd, he spent 12 years as Senior Partner at Private Equity firm Doughty Hanson in London. Yann is widely experienced in the financial, luxury pharmaceuticals and industrial sectors. He is the author of a socio-economic bestseller (France S.A.) and is a Knight in the French National Order of the Légion d’Honneur.

Jason Harel

Jason Harel heads the Mergers & Acquisitions department at BLC Robert & Associates, law firm recognised by the IFLF 1000, Legal 500 and Chambers Global as one of the best in Mauritius. Specialising in M&A, corporate taxation and corporate and commercial law, Mr Harel works primarily on behalf of investment companies wishing to use Mauritius as a jurisdiction to invest in Africa. He has extensive experience in corporate restructuring, particularly in the hospitality industry, both locally and abroad.
Mr Harel is a qualified Chartered Accountant and a Barrister-at-Law in England, Wales and Mauritius. He trained as a Chartered Accountant at the Kingston Smith and Arthur Andersen SC, specialising in collective proceedings and restructuration. After graduating in Law, Jason did his internship at Gray's Inn Tax Chambers, the leading taxation specialists in the UK. From 2000 to 2005, he was a Senior Associate at Denton Wilde Sapte LLP in London.

Hugues Lagesse

Hugues Lagesse is the Senior Development Executive at BlueLife Limited. After graduating from the Ecole Supérieure de Gestion (Paris), specialising in Management and Finance, he attended a Professional Development Program at INSEAD, Fontainebleau, France in 2007 and the Harvard Business School, USA. Specialising in Real Estate development, Hugues has acquired ten-years’ experience at BlueLife Limited.

Maxime Rey

Maxime Rey qualified as an accountant and started his career in 1973 in Mauritius in auditing before joining the Sugar Industry. He moved to South Africa in 1981 where he worked for Kuehne and Nagel (Pty) Ltd, the South African arm of a leading global provider of innovative and fully integrated supply chain solutions. He was appointed Group Financial Controller in 1989 and Director in 1992. Back in Mauritius in 1993, he joined SWAN Group, one of the market leaders in the local Insurance sector, becoming Senior Manager - Group Finance, Loans & Legal. He retired in mid-2016 and is Director of a number of companies listed on the Stock Exchange of Mauritius, in the commercial, financial, investment, sugar and tourism sectors.

Jean Ribet

Jean Ribet is a member of the South African Institute of Chartered Accountants and holds a Bachelor of Commerce degree from the University of Cape Town, South Africa. He joined the Constance Group as Financial Controller in 1991 and was appointed Group Chief Executive Officer in 2004 with overall responsibility for the agro-industrial, tourism and investment activities of the Constance Group.


Alternate Director to Mr Thierry Lagesse

Born in 1959, Stéphane Lagesse holds a degree in Gestion des Entreprises Parix IX Dauphine and joined the Palmar Group in 1983 where he currently holds the position of Chief Executive Officer. He participated in the setting up two garment manufacturing companies in Mauritius. Mr Lagesse is a member of the Board of Directors of several listed on the Stock Exchange of Mauritius Ltd.

Jan Boullé

Jan Boullé is Head of Development and Project at the Constance Group, which he joined in 1984. He is an Ingénieur Statisticien Economiste (France) and holds a diploma of 3ème cycle, Sciences Economiques, from the Université Laval, (Canada). Mr Boullé is a member of the Board of Directors of several major companies listed on the Stock Exchange of Mauritius. He is the Chairman of IBL Ltd.

Our history

  • Blyth Brothers and Ireland Fraser first established.

  • Joseph Lagesse acquires the Mon Loisir H.E. Ltd sugar refinery and begins to modernise it.

  • Cyril Lagesse establishes the Compagnie d’Investissement et de Développement Limitée (CIDL).

  • Blyth Brothers and Ireland Fraser merge to become Ireland Blyth Ltd.

  • IBL is listed on the Stock Exchange of Mauritius.

  • Creation of the GML Fondation Joseph Lagesse, with a focus on four main areas of intervention:
    Fight against poverty

  • CIDL and Desmem merge to become GML Investissement Ltée and Mon Loisir Compagnie Limitée becomes GML Ineo Ltée.
    Creation of the IBL Foundation, which seeks to improve the welfare of children in need.

  • GML Investissement Ltée becomes the majority shareholder of IBL following purchase of shares from the CIEL Group.

  • IBL becomes one of the first thirteen Mauritian companies to be listed on the SEMSI (Stock Exchange of Mauritius Sustainability Index).

  • Ireland Blyth Limited (IBL) and GML Investissement Ltée (GML I) merge after the unanimous vote of shareholders of both entities. The amalgamated entity is renamed IBL Ltd.

  • IBL Ltd makes its entry on the Stock Exchange of Mauritius on the 14th July.