Dutch Bakery in the Netherlands is getting new private-equity backers four years after buy-out house Egeria bought a majority stake in the bread and snacks maker.
London-based investor 3i Group has acquired Egeria’s stake in the business.
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In a statement, 3i said it is “investing to drive the company’s [Dutch Bakery’s] international growth strategy in the fragmented European private-label market for bake-off products”.
In a separate statement, Egeria said it was set to “divest” Dutch Bakery “after a strong period of growth”. Financial terms were not disclosed. The deal is expected to close in October, subject to anti-trust approval.
When Netherlands-based Egeria invested in Dutch Bakery in 2017, the firm’s executive team remained shareholders in the company.
In a statement, 3i director Bastiaan Peer said: “We are excited to back the Dutch Bakery management team. They have put the right foundations in place for continued future growth, both organically and through a targeted buy-and-build strategy. We look forward to working with them to realise this ambition.”
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By GlobalDataTilburg-based Dutch Bakery operates six bakeries across the Netherlands supplying major food retailers.
Founded in 1936, the company supplies bake-off bread, mini-baguettes, Kaiser buns, croissants, baguettes and sausage rolls. Its factories are located in Tilburg, Alkmaar, Eindhoven, Rijen, Waalwijk and Budel.
Earlier this year, the company acquired Danvo Bakeries, a local peer that had suffered during the Covid-19 pandemic.
Egeria director Sander van Keken said: “Dutch Bakery has been part of Egeria since 2017 and we are proud to have supported the company in growing and solidifying their business. We believe that the company is in a good position for the future and are happy that we have found a strong new partner for the next growth phase of Dutch Bakery.”
Raoul Vorage, the CEO of Dutch Bakery, added: “The partnership with Egeria has helped us to grow Dutch Bakery further and to professionalise our way of working over the last years, which forms a strong basis for the future of our company.”
