Emmi, a Swiss dairy major, has announced its plans to acquire the France-based frozen-bakery business, Mademoiselle Desserts. The enterprise value of the deal stands at €900m ($974.3m), subject to regulatory and competition approvals. Emmi intends to finance the transaction through a combination of debt and cash reserves.
Last year, Mademoiselle Desserts, headquartered in Montigny-le-Bretonneux, reported sales of approximately €420m and employed around 2,000 individuals. Once the acquisition is finalized, the “premium desserts niche” is expected to contribute to about 17% of Emmi’s total sales. With group sales reaching SFr4.2bn ($4.6bn) last year, representing organic growth of 3%, Emmi aims to further strengthen its strategic position in the premium desserts category.
Ricarda Demarmels, Emmi’s CEO, highlighted the significance of the acquisition, stating, “With the contemplated acquisition of the Mademoiselle Desserts Group, we aim to enhance our strategic premium desserts category and provide our customers with an innovative and high-quality full range. This move will enable us to capitalize on global growth opportunities in the premium desserts segment and advance our portfolio transformation.”
Furthermore, Didier Boudy, the CEO of Mademoiselle Desserts, is expected to continue leading the business post-transaction, overseeing Emmi’s dessert portfolio, which includes operations in Italy and the US.
In a related development, London-based private-equity firm IK Partners confirmed its agreement with Emmi for the sale of its undisclosed stake in Mademoiselle Desserts. IK Partners’ involvement in the business since 2018 has seen Mademoiselle Desserts acquire several companies, strengthening its position as a leader in the European frozen-pastry market.
Rémi Buttiaux, a managing partner at IK, commended the professionalism and expertise of the Mademoiselle Desserts team, emphasizing the successful implementation of organic and external growth strategies that have solidified the company’s market standing.
Overall, the acquisition of Mademoiselle Desserts represents a strategic move by Emmi to expand its presence in the premium desserts category and capitalize on emerging trends in the food and beverage industry.
