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September 6, 2018

Mademoiselle Desserts acquires Michel Kremer Pastry

French frozen bakery specialist Mademoiselle Desserts has acquired fellow bakery firm Michel Kremer Pastry for an undisclosed amount.  

French frozen bakery specialist Mademoiselle Desserts has acquired fellow bakery firm Michel Kremer Pastry (PMK) for an undisclosed amount.  

Founded in 1994 by Michel Kremer, the Argenton-sur-Creuse-based pastry company manufactures a 300-strong range of French pastries for the retail and foodservice channels. It has a turnover of EUR40m (US$46.4m) and employs more than 250 people.

Michel Kremer will leave the business, while his son Guillaume, who co-led the company for several years, joins the Mademoiselle Desserts’ team. 

Didier Boudy, president and chief executive of Mademoiselle Desserts, said: “Michel Kremer Pastry and Mademoiselle Desserts share most of their founding values – product quality, innovation, customer service and human values. Our ranges and know-how complement each other ideally. For both companies, this rapprochement seemed natural and logical.” 

Mademoiselle Desserts, which predominately manufactures private-label frozen industrial finished and semi-finished pastry in Europe, is majority-owned by pan-European private-equity firm IK Investment Partners after the investor bought a stake from counterpart Equistone Partners Europe earlier this year.

The company has nine production sites, with five located in France, three in England and one in the Netherlands.

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Kremer added: “The project proposed by Mademoiselle Desserts seemed to me to be the most relevant to PMK’s strategy. I am convinced that this new shareholder will contribute very positively to the development of the company in France and internationally, while respecting our culture and the local roots of society.”

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