French frozen pastries business Mademoiselle Desserts, majority-owned by private-equity firm Equistone Partners Europe, has acquired Dutch peer Quality Pastries for an undisclosed sum.
Mademoiselle Desserts CEO Didier Boudy said the deal offered the French firm “strategic benefits”. Boudy said: “Quality Pastries’ offering will allow us to provide a complete range of products and gives us a unique position in the industrial pastries market. Equistone’s European network and expertise in supporting its portfolio companies’ acquisitive growth have been crucial to the success of this project.”
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Mademoiselle Desserts, which was known as Européenne des Desserts, has six production facilities across France and the UK. Its customers include French retailers Carrefour and E. Leclerc, as well as UK grocer Marks and Spencer. It has revenue of more than EUR175m (US$194.4m) in 2015.
Quality Pastries, which has a production facility in the Netherlands, manufactures frozen puff pastries, choux pastries and sponges. Mademoiselle Desserts said the deal would help it “broaden its international customer base and strengthen its product offering”.
Jan-Martin Ridder, the commercial director at Quality Pastries, has become the business’ chief executive. Ridder said: “Mademoiselle Desserts will provide us with the necessary financial backing to reach our ambitious development goals. While continuing our activity from Quality Pastries’ production facility in Weert, we will benefit from commercial synergies and an increase in our activity.”
Equistone bought its majority stake in Mademoiselle Desserts in 2013. Partner Arnaud Thomas said: “This further acquisition is an important step in positioning Mademoiselle Desserts as the European leader in the frozen pastries industry.”
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