IK's Mademoiselle Desserts bolts on Michel Kremer

Founder Michel Kremer will leave the business he created in 1994 while his son Guillaume will join Mademoiselle Desserts' board.

IK bought a majority stake in Mademoiselle Desserts in May this year, via its IK VIII Fund, which typically targets deals with enterprise values in the €100-500m range.

IK is familiar with the food sector, having invested in Linxis Group (2017), Salad Signature (2016), Cérélia Group (2015), Løgismose Meyers (2015), Solina Group (2011), Europe Snacks (2010) and Labeyrie (2002), among others.

Company
Founded in 1994 and located in Argenton-sur-Creuse, Michel Kremer generates €40m in turnover with 250 employees. The business serves bakers, pastry chefs, the hospitality sector, catering businesses and retail.

People
IK Investment Partners – Rémi Buttiaux (partner); Dan Soudry (managing partner).
Michel Kremer – Michel Kremer (founder).

Advisers
Company – Capitalmind Corporate Finance Advisory (corporate finance); EY (financial due diligence); Hide Puylajarde Mahieux Libaud (legal); BSR & Associes (tax).
Equity – PwC (financial due diligence); Willkie Farr & Gallagher (legal).

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• Topics
• Portfolio management
• France
• Consumer
• France
• IK Investment Partners
• Build-up