MADEMOISELLE DESSERTS acquired by IK PARTNERS
Context
IK Investment Partners won a competitive auction process (against PAI Partners and Towerbrook) to acquire a majority stake in Mademoiselle Desserts from Equistone Partners Europe. The transaction marks a successful exit for the sellers, who supported the group's transformation into a pan-European leader despite significant headwinds in the commodities market. The strategic rationale for IK is to continue the international consolidation of the fragmented frozen bakery market. The previous cycle was marked by heavy expansion into the UK
In the past, the company underwent an LBO led by Equistone in 2013, and continued an active consolidation strategy by notably acquiring Ministry Of Cake (2017).
MADEMOISELLE DESSERTS, 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 (10.7x).
-> Deep-dive in AgriFood market trends
Target
Headquartered in France, Mademoiselle Desserts is a leading European manufacturer of premium frozen Corporate pastry. The group supplies retailers (private label) and the foodservice industry (restaurants, canteens) with a wide range of tarts, flans, and cakes. Following a strategic rebranding from "Europeenne des Desserts," the company aggressively expanded its footprint beyond France, establishing a major presence in the UK and the Netherlands through acquisitions like The Handmade Cake Company, Ministry of Cake, and Quality Pastries.
Ent. Value
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Historical Financials (EUR)
Other operations with MADEMOISELLE DESSERTS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2024 | EMMI GROUP | MADEMOISELLE DESSERTS | FRANCE | Bakery / Pastry |
| 05/2023 | MADEMOISELLE DESSERTS | GALANA (PASTRY & ICE CREAM) | BELGIUM | Bakery / Pastry |
| 12/2018 | MADEMOISELLE DESSERTS | DELICE DES 7 VALLEES | FRANCE | Bakery / Pastry |
| 10/2018 | MADEMOISELLE DESSERTS | PÂTISSERIE MICHEL KREMER | FRANCE | Bakery / Pastry |
| 01/2017 | MADEMOISELLE DESSERTS | MINISTRY OF CAKE | UNITED KINGDOM | Bakery / Pastry |
| 11/2013 | EQUISTONE | MADEMOISELLE DESSERTS | FRANCE | Bakery / Pastry |
REFERENCES
Revenue range: 250M - 500M EUR
EBITDA range: 25M - 50M 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.
Target: mademoiselle desserts
Acquirer: ik partners