Pan-European private-equity firm IK Investment Partners has completed its move to acquire a majority stake in French frozen bakery specialist Mademoiselle Desserts.
The transaction, first revealed in May, was finalised earlier this month, a spokesperson for IK Investment Partners told just-food today (27 July).
Established in 1984, Mademoiselle Desserts is a manufacturer of frozen industrial finished and semi-finished pastry in Europe.
It emerged in May IK Investment Partners was in exclusive talks with private-equity peer Equistone Partners Europe to buy the majority stake in Mademoiselle Desserts.
French media reports at the time estimated the value of the deal at EUR330m (then US$394.7m) but the IK Investment Partners spokesperson declined to comment today.
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Owned by Equistone since November 2013, Mademoiselle Desserts operates nine production sites across France, the UK and the Netherlands and has an annual turnover of around EUR220m, of which 45% is generated outside of France. It employs 1,500 staff.