When was ENGLISH BAY BATTER acquired by CERELIA?

ENGLISH BAY BATTER was acquired by CERELIA in 2017.

What was the revenue of ENGLISH BAY BATTER at the time of the deal?

The revenue of ENGLISH BAY BATTER at the time of the deal is estimated to be in the range of 50M - 100M EUR.

How is the data for the ENGLISH BAY BATTER acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ENGLISH BAY BATTER deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://ikpartners.com/company-news/cerelia-acquires-english-bay-batter/

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Home Database AgriFoodENGLISH BAY BATTER

04/2017

ENGLISH BAY BATTER acquired by CERELIA

CANADA Food Processing / Food Products REV 50M - 100M EUR

Context

Cérélia Group has acquired English Bay Batter from the Canadian investment holding Kilmer Van Nostrand. This transaction is a transformative step in Cérélia’s internationalization, shifting its revenue mix from 35% to 65% international (with North America representing a quarter of total sales). The acquisition was financed through a full debt refinancing of the group, covering 100% of the purchase price and allowing for an exceptional dividend payment to IK Investment Partners (representing 25% of the initial equity). Following the deal, the group’s leverage increased from 4.5x to 5.1x EBITDA. Pro-forma for the acquisition, Cérélia’s total turnover exceeds €400 million, solidifying its position as a global multi-specialist in the ready-to-bake and snack sectors.

ENGLISH BAY BATTER, which reported an EBITDA margin of in 2017, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (10.4x).

-> Deep-dive in AgriFood market trends

Target

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.

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2016

Similar deals in Food Processing

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
06/2017	THE CARLYLE GROUP	IRCA	ITALY	Ingredients
05/2017	EURAZEO	GROUPE CPK (CARAMBAR POULAIN KREMA)	FRANCE	Food Products
01/2017	MADEMOISELLE DESSERTS	MINISTRY OF CAKE	UNITED KINGDOM	Bakery / Pastry
11/2016	BRIDGEPOINT	VITAMIN WELL	SWEDEN	Soft Drinks
11/2016	CHARTERHOUSE	CASA OPTIMA	ITALY	Ingredients
10/2016	MEANINGS CAPITAL PARTNERS	COMPAGNIE COLONIALE	FRANCE	Coffee & Tea
09/2016	AMPLIFY SNACK BRANDS	TYRRELLS	UNITED KINGDOM	Food Products
09/2016	GROUPE BEL	MATERNE-MONTBLANC (MOM GROUP)	FRANCE	Food Products
07/2016	DANONE	WHITEWAVE	UNITED STATES	Dairy
06/2016	HANA GROUP	PEACE DINING CORP	UNITED STATES	Food Products

REFERENCES

Revenue range: 50M - 100M EUR

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.