Equistone's Européenne des Desserts picks up Handmade Cake

The deal is part of Européenne des Desserts' growth strategy, increasing its number of sites to four in France and now two in the UK.

Cash for the deal came from Européenne des Desserts' balance sheet, with Ardian providing debt facilities.

Previous funding
Equistone acquired Européenne des Desserts in October 2013 from previous owners Azulis Capital and Céréa Partenaire. The deal was understood to be worth in excess of €100m and was supported with debt financing from Ardian, according to unquote" data.

Company
Based in Maidenhead, The Handmade Cake Company was founded in 1983. Today, the company turns over £12m and employs 143 people.

The business specialises in handmade cakes using English and American recipes. Cakes are sold to coffee shops, as well as national and regional wholesalers in the UK. Products include caramel shortcake, carrot cake and Victoria sponge.

Established in 1984, Européenne des Desserts is a frozen baking business. For 2015, the group is targeting turnover of £120m, of which £20m will be generated in the UK.

People
Didier Boudy is chairman of Européenne des Desserts. Guillaume Jacqueau is managing partner of Equistone.

Advisers
Equity – McQueen, Garyth Stone, Jean-Christophe Kawais (Corporate finance); Roxburgh Milkins, Richard Hopkins (Legal); King & Wood Mallesons, Thomas Maitrejean, Benjamin Garçon (Legal); PwC, Christopher Aronson, Martin Naquet-Radiguet (Financial due diligence); Bishop Fleming (Tax); ERM (Environnemental due diligence).
Vendor – Raworths Solicitors, Simon Morris (Legal).
Debt – Willkie Farr & Gallagher (Legal).

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

• Topics
• France
• Expansion
• Equistone Partners Europe