French private equity investment company Ardian will acquire bakery solutions provider Cérélia from the IK VII Fund, advised by IK Investment Partners.
Cérélia manufactures ready-to-bake pie and pizza dough, pancakes, crepes and cookies.
The company operates 12 facilities across Europe and North America. It exports its products to more than 50 countries.
Cérélia founder and CEO Guillaume Réveilhac said: “The Cérélia team is delighted to begin this new chapter in the company’s development, and we thank the IK team for their support and guidance over the last five years.
“We are excited to partner with Ardian as the team has a strong collaborative approach, a core skill set and an extensive network. We were also convinced by Ardian’s primary business philosophy, a set of values that we also share.”
Cérélia claims that all its products are organic and gluten-free. The company is expanding footprint beyond European boundaries and launching its bakery products in the North American market.
Neither company has divulged the financial details of the acquisition.
Ardian Buyout Fund Americas Investments head Thibault Basquin said: “We are proud to invest alongside management as we accelerate Cérélia’s growth in Europe and North America.
“Its undisputed market position in Europe, quality of customer relationships and history of growth reflect the strength of the management team, the employees and the overall commitment to a culture of excellence.”
In April 2018, Ardian sold its stake in Piz’Wich to German frozen convenience food and snack products manufacturer frostkrone.
