Ardian is set to acquire and merge Spanish bakery companies Berlys and Bellsolà in a move which will create a business with combined revenues of around €300m.
The deal sees Alantra and Artà Capital exit Berlys after a six-year hold. Bellsolà’s majority shareholder, Landon Group Corporativo, will maintain a minority stake.
Both Berlys and Bellsolà produce and distribute bread, pastry products and savoury snacks. The new company will have 11 production plants, more than 1,700 employees and a footprint in 30 countries. The transaction is expected to close by the end of the first quarter of 2018.
Berlys’ chairman Julio Muñoz will keep his role in the newly formed company while Bellsolà’s general manager Bosco Fonts will take up the position of chief executive officer.
Ardian is not the only firm to take an interest in baked goods. Last week it emerged L Catterton has acquired a 20 per cent minority stake in Nordic Capital-backed Danish bakery and food service chain Lagkagehuset. Nordic Capital picked up the business in June.
In October, Dutch buyout firm Egeria acquired a majority stake in Dutch Bakery from Standard Investment.