MINISTRY OF CAKE acquired by MADEMOISELLE DESSERTS
Context
LDC has exited its investment in Ministry of Cake through a sale to the French group Mademoiselle Desserts. The transaction creates a dessert giant with unrivaled production capabilities in the UK foodservice market. LDC had originally backed the MBO from Greencore in 2014. During its tenure, revenue grew from �20m to nearly �30m, driven by the acquisition of a second factory in Torquay and a 10% increase in export sales. Ministry of Cake will continue to operate autonomously under its existing CEO who reinvested to become a shareholder in the wider Mademoiselle Desserts group.
MINISTRY OF CAKE, which reported an EBITDA margin of LOGIN in 2016, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.8x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Headquartered in Taunton, Ministry of Cake is the UK's largest dedicated manufacturer of desserts for the foodservice industry. It produces over three million slices per week of hand-finished cakes, puddings, and tray bakes for major restaurant chains, pubs, and coffee shops. Under LDC's ownership (2014-2017), the company expanded capacity by acquiring the Creative Foods factory in Torquay and grew its workforce from 300 to 400 employees.
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Historical Financials (GBP)
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REFERENCES
Revenue range: 25M - 50M GBP
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Acquirer: mademoiselle desserts