Food and Beverage Business

CVC Capital Partners purchases Spain’s Monbake Group

CVC Capital Partners purchases Spain's Monbake Group Bakery and Cereal Food and Beverage Business

Monbake Group, a frozen baked-goods business in Spain, has been acquired by Luxembourg-based private-equity firm CVC Capital Partners. The acquisition was made from France-based investment company Ardian and co-investors Alantra, Artá, and Landon. Financial details were not disclosed in a statement from CVC Capital, but according to the Spanish publication El Confidencial, the price is estimated to be close to €1bn ($1.08bn).

“After six years of supporting the domestic and global growth of the company and with the initial objectives achieved, Ardian considers that the investment cycle has ended, and will now allow CVC to spearhead the next phase of Monbake’s growth,” the private-equity firm said in the statement.

Monbake, which was established in 2018 through the acquisition of bakery companies Berlys and Bellsolá, expressed gratitude to Ardian for their support in the past six years. The company’s CEO Aurelio Antuña stated, “We would like to thank Ardian for their strong support and commitment to Monbake’s growth over the past six years.”

Furthermore, Monbake’s new partner, CVC Capital, expressed confidence in the management team and their ability to implement the company’s global growth strategy. José Antonio Torre de Silva, a partner at CVC Capital, remarked, “We are honoured to become Monbake’s new partner, offering our experience and proven track record in the sector to support the next phase of growth.”

At the end of its fiscal 2022, Monbake achieved a consolidated turnover of €382m, marking a 28% increase compared to the previous year. Despite reporting a net loss of €20m, the company remains optimistic about its future under the new ownership.

Monbake operates nine factories that supply hospitality, specialized channels, and retailers such as Mercadona and Lidl. The company also owns 200 stores and cafés and employed over 1,700 people by the end of 2022.

In conclusion, the acquisition by CVC Capital represents a significant milestone for Monbake, poised to strengthen its position in the food and beverage industry. With a focus on innovation and global growth, the company is set to continue its journey as an industry leader.

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