February 17, 2023

On February 16, Willkie client PAI Partners announced that it agreed to acquire La Compagnie des Desserts (LCDD), a leading premium frozen desserts supplier for the food service market, from independent European investment fund Argos Wityu. 

PAI, through its PAI Mid-Market Fund, will partner with LCDD to build a pan-European leader in premium frozen desserts by gaining further market share, optimizing its footprint and accelerating its international expansion. As part of the transaction, Credit Mutuel Equity, which held 20% of the shares alongside Argos Wityu, also exited from LCDD.

Headquartered in France, LCDD creates, produces, sells and distributes artisanal ice cream and premium frozen pastries to more than 23,000 food service clients across Europe, mainly in France, Spain and the UK. 

PAI Partners is a pre-eminent private equity firm, investing in market-leading companies across the globe. It is based in Paris and manages €26.4 billion of dedicated buyout funds.

The Willkie team was led by partner Eduardo Fernandez and included partner Paul Lombard and associates Mathilde Faure, Rudy Merlet, Alexandre Kong, Ralph Unger and Pauline Sarda.