3I takes majority stake in EUROPEAN BAKERY GROUP
Context
3i Group has invested in Dutch Bakery, a bakery group specialized in home bake-off bread and snack products, to support the company's international growth strategy in the fragmented European private label market for bake-off products. The investment by 3i Group will enable Dutch Bakery to strengthen its leading position in the Dutch market and expand its activities internationally. The company's growth strategy will be based on a combination of organic growth and external development, including targeted acquisitions. 3i Group will provide its expertise and support to the management team of Dutch Bakery to help the company reach its full potential and achieve its growth objectives.
It is worth noting that the fund Egeria took control of European Bakery Group through an LBO in 2017.
EUROPEAN BAKERY GROUP, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (11.0x).
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Target
European Bakery Group (ex Dutch Bakery) is the Netherlands market leader in bake-off bread and bread-based snacks. Founded in 1936, the company has several bakeries across the Netherlands and employs around 400 people. Dutch Bakery is specialized in consumer bake-off bread, and it annually bakes nearly a billion rolls, including mini-baguettes, Kaiser buns, croissants, baguette, sausage rolls, and pastry with sausage filling. The company's products are sold to major supermarket organisations both in the Netherlands and abroad. Dutch Bakery is known for its wide range of high-quality products and continues to develop and grow in the market.
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Historical Financials (EUR)
Other operations with EUROPEAN BAKERY GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2023 | EUROPEAN BAKERY GROUP | COOLBACK | GERMANY | Bakery / Pastry |
| 10/2017 | EGERIA | EUROPEAN BAKERY GROUP | NETHERLANDS | Bakery / Pastry |
REFERENCES
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Press release: view release
Target: european bakery group
Acquirer: 3i