Ardian provides unitranche for Européenne des Desserts buyout

Ardian invested via the AXA Private Debt Fund III vehicle. Equistone acquired French desserts maker Européenne des Desserts from Azulis Capital and Céréa Partenaire at the end of October. The transaction was understood to be worth in excess of €100m and is expected to complete this month.

Established in 1984, Européenne des Desserts is a frozen baking business operating five production sites; four in France and one in the UK. The group's customers are businesses active in the retail and catering sectors.

The group is now expected to post a €140m turnover for 2014; it employs 770 staff.

Ardian has been one of the main providers of unitranche on the French market for the past couple of years, having deployed in excess of €1bn within this time frame. The GP notably arranged a €220m unitranche facility for the secondary buyout of industrial supplies distribution company IPH by PAI partners in March this year, and deployed €275m to finance the €450m buyout of Flexitallic by Bridgepoint in October.

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• Topics
• France
• Buyouts
• Financing
• France
• Equistone Partners Europe
• Axa Private Equity
• Azulis Capital