Bridgepoint bites into Dr Gerard

Bridgepoint acquired the firm via the €4.8bn buyout fund Bridgepoint Europe IV, which closed in 2008. The fund is able to commit up to €350m per transaction and invests in companies with enterprise values of €200m-1bn.

The new owner will pursue an international growth strategy with a focus on Central and Eastern Europe, alongside consolidation in the Polish market.

LBO France's Groupe Poult bought Dr Gerard in 2010 as part of a buy-and-build strategy for Groupe Poult, which the GP acquired in 2007. LBO France focused on increasing the company's exposure to Central and Eastern Europe during its ownership.

Company
Founded in 1993 and based near Warsaw, Dr Gerard is a biscuit producer with a wide range of products across all biscuit segments. The company operates from three sites in Poland, where it employs more than 950 members of staff.

When the firm launched, it produced only four types of pastry cookies and gingerbread. Following the introduction of a semi-automated production line, the company was able to launch a further 50 products. Today, Dr Gerard has a fully automated production line and produces more than 200 types of cookies and biscuits.

Turnover reached €43m in 2010 and is forecast to hit €57m by the end of 2013.

People
Khai Tan is a partner at Bridgepoint and is responsible for the firm's activities in Central and Eastern Europe.

Advisers
Equity – Lazard (Corporate finance); Raiffesien Investment (Corporate finance); Navigator Capital (Corporate finance); Ernst & Young (Financial due diligence, tax); Dentons (Legal); Environ (Environmental due diligence); Roland Berger (Commercial due diligence); Marsh (Insurance due diligence); Newton (Other due diligence).
Vendor (LBO France) - Rothschild, L. Baril, F. Cygler (Corporate finance); Mayer Brown, E. Heurtel, V. Nedellec, O. Parawan, C. Belolo (Legal); Biedecki (Legal); PwC, D. Willems, J. Charles-Lavauzelle (Financial due diligence); Advention, A. Neveux, A. Bilien-Montes (Consultancy).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• CEE
• Consumer
• Buyouts
• Exits
• Poland
• Bridgepoint
• Partial sale