Wellingborough-based Speciality Desserts has been sold to French manufacturer Européenne des Desserts (EDD).
The Northamptonshire bakery company, which produces a number of frozen desserts for the foodservice sector, has been advised on the move by Catalyst Corporate Finance.
EDD supplies pastry-based products and frozen desserts throughout the retail and foodservice industry, predominantly in France, with a client base including Marks & Spencer, LeClerc, Carrefour and Brakes.
Doug Chapman, of Speciality Desserts, said: “We are delighted to be part of the EDD family as there are integral similarities in our culture and ethos, with the added advantage of complimentary product portfolios.
“This will further strengthen Speciality Desserts’ position as a leader in the field of innovative dessert manufacturing. Catalyst’s dynamic team recognised that the two businesses were an excellent strategic fit.”
EDD was originally acquired from Premier Foods in 2009 by Cerea Gestion and Azulis Capital, two French private equity houses. This will be the second acquisition by EDD and its first outside of France.
Jamie Hope, partner at Catalyst Corporate Finance, said: “Through our dedicated research team, sector focus and our international partnership, Mergers Alliance, we were able to identify potential buyers for the business in a number of countries.
“This is becoming increasingly important to our clients as the majority of trade buyers are now from outside the UK. Speciality Desserts is a strong well-run business and this new ownership will help it go from strength-to-strength.”