Dutch buyout firm Egeria has acquired a majority stake in Dutch Bakery from Standard Investment.

Dutch Bakery specialises in bread-based snacks and rolls, including mini baguettes, croissants and Kaiser buns. It bakes nearly one billion products every year.

The company was founded in 1936 by the grandfather of current shareholder Jefrem Schapendonk. It has six bakeries across the Netherlands, generates turnover of around €100m and employs 400 people.

“We had been tracking Dutch Bakery for quite a while, and we see many opportunities, for instance through the broadening of the product range and continued internationalisation. We believe that our experience obtained through our past participations in Izico, Ad van Geloven, Royal Sanders, and United Dutch Breweries and our international network can contribute to the achievement of these objectives,” said Egeria partner Floris Waage.

Standard Investment acquired Dutch Bakery, then a subsidiary of Bakkersland, as a turnaround project in 2014. It returned the company to profit within six months of its investment and subsequently supported bolt-on acquisitions including PB BAKE OFF and Tjendrawasih.

Amsterdam-headquartered Standard Investment backs Benelux companies with an equity ticket size of up to €15m. It makes both growth and turnaround investments.

Dutch Bakery and its shareholders were advised by Houlihan Lokey, Lexence, The Boston Consulting Group, and PwC.

Egeria was advised by Allen & Overy, PwC, and Deloitte.

 

 

SUBSCRIPTION REQUIRED

To view the deal details,  or subscribe.