One of the leading European mid market private equity management firms, Equistone Partners Europe Ltd, announced the acquisition of Europeene des Desserts by its Equistone Partners Europe Fund IV. The original owners were CEREA Partenaire and Azulis Capital as well as the current management team.
One of the terms of the agreement would allow the original shareholders retain a minority stake in the Europeene des Desserts. It is the top firm in the frozen baking industry in France, with an employee complement 770 people across five production sites in both France and the UK.
The turnover for the company is projected to reach EUR140 million in 2014. WIth the capital infusion from Equistone, the company seeks to expand its product line both locally and abroad. The acquisition plans of the company would also be supported both as complementary businesses and in new locations.
According to Europeene des Desserts President Didier Boudy, "After the exceptional work achieved wuth the support of CEREA Partenaire and Azulis Capital over the last five years, we were looking for a new partner to continue our development. With the experience of the team, its international network and pragmatic approach to business. Equistone is our ideal partner. Working alongside Equistne, we will be able to grow our product portfolio and accelerate our international expansion."
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