Senoble, France’s leading producer of retailers’ own-brand dairy products, has acquired UK-based cakes and desserts firm Elisabeth the Chef.
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The value of the transaction was undisclosed. Elisabeth the Chef, which specialises in chilled, ambient and frozen cakes, components and dessert products, has been owned by London-based Primary Capital since 1999.
Senoble’s first buy in the UK, Elisabeth the Chef was founded in Leamington Spa in 1928 and today operates three manufacturing plants.
“Having gone through a difficult spell, Primary Capital turned the company round and it was profitable again in 2006,” said Senoble’s financial director, Alain Perez. Its turnover this year is expected to grow by 21% to EUR100m (US$140.4m).
Senoble’s turnover is forecast to reach EUR850m this year and, buoyed by its new subsidiary, rise to EUR1bn in 2008, with international activities accounting for nearly 60% of sales.
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