IK's Mademoiselle Desserts bolts on Les Délices des 7 Vallées

A person familiar with the situation disclosed that Mademoiselle Desserts' first bid, which took place in 2017, was rejected at the time. 

Sagard was planning to start an auction in early 2019, but Mademoiselle Desserts organised a pre-emptive offer in Q4 2018, Unquote understands. 

The frozen bakery goods businesses complement each other, as Les Délices des 7 Vallées exports heavily while Mademoiselle Dessert serves the French market. 

Mademoiselle Desserts, a manufacturer of premium frozen bakery goods, has 10 production sites – six in France, three in the UK and one in the Netherlands – and employs 1,600 people. IK bought a majority stake in the business from Equistone in Q2 this year.

Since being backed by IK, Mademoiselle Desserts has also bolted on France-based Michel Kremer.

Previous funding
Sagard invested in 7 Vallées – alongside Antoine Heunet and the management team – in 2015 via Sagard III, which closed on €800m in 2017. 

The company's revenues have grown by 55% since 2015, according to a statement by Sagard.

Company
Founded in 1996 and based in Tincques, 7 Vallées supplies frozen desserts to department stores, retail outlets and restaurants in France, as well as in export markets (22% of sales). It currently employs 400 people and generates annual revenues of €68m.

People
Les Délices des 7 Vallées – Antoine Heunet (CEO).
Mademoiselle Desserts – Didier Boudy (CEO).
Saïk Paugam – Sagard (partner).

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• Topics
• Exits
• France
• Consumer
• Portfolio management
• France
• IK Investment Partners
• Sagard Private Equity
• Trade sale
• Build-up