European food manufacturer invests in fast-growing cake specialist
LDC has exited its investment in Bristol food manufacturer Cakesmiths with a sale to European food group Onore.
In the two years since LDC invested, Cakesmiths has increased revenues from £9m to around £23m and nearly doubled the workforce to more than 200 people.
The deal value has not been disclosed but LDC revealed it has generated a 3x money multiple return and IRR of 81% for LDC.
Onore, which was previously known as Boncolac, is a major player in frozen pastries and snacking products.
Cakesmiths chief executive Chri... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
