French fancy Midlands pudding maker
BIRMINGHAM’S Catalyst Corporate Finance has advised on the sale of Speciality Desserts to Européenne des Desserts (EDD), a French dessert manufacturer.
Started in 1997 by a husband and wife team, Northamptonshire’s Speciality Desserts provides innovative frozen dessert menu solutions to national restaurant, hotel and pub chains.
EDD is a leading supplier of pastry based goods and a range of French frozen desserts to retail and foodservice customers, mainly in France. Customers in France include M&S, LeClerc, Carrefour and Brakes. EDD was originally acquired from Premier Foods in 2009 by Cerea Gestion and Azulis Capital, two French private equity houses. This will be the second acquisition by EDD and its first outside of France.
Doug Chapman of Speciality Desserts said: “We are delighted to be part of the EDD family as there are integral similarities in our culture and ethos, with the added advantage of complementary product portfolios.
“This will further strengthen Speciality Desserts’ position as a leader in the field of innovative dessert manufacturing.”
The Catalyst team was led by partner Jamie Hope in Birmingham with support from food and drink specialist Simon Peacock in Catalyst’s Nottingham office.
Hope said: “Through our dedicated research team, sector focus and our international partnership, Mergers Alliance, we were able to identify potential buyers for the business in a number of countries. This is becoming increasingly important to our clients as the majority of trade buyers are now from outside the UK. Speciality Desserts is a strong well-run business and this new ownership will help it go from strength-to-strength.”
Legal advice was provided by Simon Gill from Gateleys.
