IK Investment Partners Announces Agreement to Sell Cérélia

December 19, 2019

Paris office advises IK Investment Partners in its announced sale of Cérélia, the leading transatlantic provider of innovative bakery solutions, to Ardian.

On December 19, Willkie client IK Investment Partners announced the sale, through its IK VII Fund, of Cérélia, the leading transatlantic provider of innovative bakery solutions, to Ardian. Cérélia’s product portfolio includes ready-to-bake pie and pizza dough, pancakes, crepes and cookies.

Headquartered in Paris, Cérélia employs over 1,600 people, operates 12 facilities across Europe and North America, sells its products in more than 50 countries around the world and generates nearly €500 million of revenue. Cérélia traces its roots to Alsacienne de Pâtes Ménagères, which in 2012 merged with Eurodough to form Cérélia. In 2015, Cérélia and IK broadened its strategy through the acquisition of de Bioderij, which extended its product portfolio into pancakes and crepes, launching Cérélia into the North American and Asian markets. Over the past three years, Cérélia also acquired two complementary businesses, Bakeaway and English Bay Batter, to further expand its product portfolio and geographic reach, most notably throughout the United States, Canada and the United Kingdom.

The Willkie team was led by partner Eduardo Fernandez and included national partner Grégory de Saxcé and associate Marion Callot (all corporate). National partner Faustine Viala and associate Maud Boukhris advised on competition aspects of the deal.