CERELIA
Acquired by
IK PARTNERS
CERELIA acquired by IK PARTNERS
Target
CERELIA
Acquirer
IK PARTNERS
Context
IK Investment Partners acquired a majority stake in Cérélia Group, succeeding a consortium of investors led by Sagard, Capzanine, Cerea Capital, and BNP Développement. The transaction was structured as a preemptive bid, valuing the group at approximately €300 million. The strategic rationale centers on accelerating the company's transition from a regional leader into a global champion of chilled dough and ready-to-bake products. Under the leadership of CEO Guillaume Réveilhac, who remains a significant minority shareholder, the partnership aims to leverage IK's financial backing to execute large-scale add-on acquisitions. This acquisition follows a successful integration phase under Sagard's tenure, which saw the company's revenue reach €212 million by 2014.
Target
Cerelia is a leading transatlantic manufacturer of fresh, ready-to-bake dough and premium bakery products, with a heritage dating back to 1974. The group holds leadership positions in Europe and North America across several categories, including pie crusts, pizza dough, pancakes, crepes, and cookies. Operating a robust Corporate footprint with major facilities in France, Italy, the UK, and North America, Cerelia distributes its products in over 50 countries through both private label partnerships and proprietary brands (such as Croustipate and English Bay Batter).
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with CERELIA
| Date | Acquirer | Target | Country | Sector | Target Description |
|---|---|---|---|---|---|
| 12/2019 | ARDIAN | CERELIA | FRANCE | Food Processing | Cerelia is a leading transatlantic manufacturer of fresh, ready-to-bake dough and premium bakery products, with a heritage dating back to 1974. The group holds leadership positions in Europe and North America across several categories, including pie crusts, pizza dough, pancakes, crepes, and cookies. Operating a robust Corporate footprint with major facilities in France, Italy, the UK, and North America, Cerelia distributes its products in over 50 countries through both private label partnerships and proprietary brands (such as Croustipate and English Bay Batter). |
| 04/2017 | CERELIA | ENGLISH BAY BATTER | CANADA | Food Processing | Founded in 1983, English Bay Batter is a major North American manufacturer of refrigerated and frozen bake-off products. The company specializes in gourmet cookies, muffins, and brownies, serving both the food service industry and retail channels. At the time of the acquisition, it was ranked as the fourth-largest player in its sector in North America. Its business model focuses on high-quality dough and batter formulations, operating multiple production facilities across Canada and the United States. Strategically, the company provides a strong platform for European food groups looking to enter the North American convenience baking market through established distribution networks and localized production capabilities. |