L Catterton takes minority stake in Nordic Capital-backed bakery Lagkagehuset

L Catterton has acquired a 20 per cent minority stake in Nordic Capital-backed Danish bakery and food service chain Lagkagehuset, which trades under the name Ole & Steen in the UK.

Jean-Philippe Barade, partner and head of L Catterton’s London office, will join Lagkagehuset’s board.

Nordic Capital acquired Lagkagehuset from FSN earlier this year. It aims to grow the business in Denmark and internationally.

This includes a increasing presence in London, where the company has gone from two to five stores in less than four months. The chain has recently opened bakeries in Canary Wharf, Bedford Avenue and Victoria, and additional new stores are planned for Wigmore Street and High Street Kensington.

“This is just the start of an ambitious international expansion plan,” said Michael Haaning, a partner at Nordic Capital.

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