Pidy, the Belgian pastry products business, has been acquired by French operator Biscuits Bouvard Group.
In a statement, Pidy said the deal was a friendly takeover, initiated so that current Pidy chief executive, Thierry Dehaeck, could reduce his day-to-day business activities, while ensuring the group’s further growth. Dehaeck will continue to advise on a consultancy basis during the initial months of the takeover.
Pidy’s annual turns over £33m (EUR 40m).
Biscuits Bouvard is managed by Pierre-Alain Laine, with the support of his father Alain Lainé. It has been operating in the private label biscuit sector for 25 years with a strong market presence in Europe. The company has 1,200 employees, split across seven production centres in France and one in Italy, with a combined turnover £209m (EUR 250m).
Robert Whittle, Pidy UK’s general manager, will be spearheading the Bouvard/Pidy UK operation. He said: “Being part of a larger family owned group brings the UK business a huge wealth of potential.”
He added: “We would like to reassure our customers that there will be no changes in business names or personnel in this deal. Pidy UK’s 40% growth over the last three years is set to continue in the pastry side of the business, and it is very much business as normal.”
Last week Pidy announced it had devised a new range of gluten-free pastry tartelettes.