Tag Archives: Consumer brands

Ardian and PAI Partners agree deal for Audiotonix

Ardian

PAI agrees to acquire majority stake in Audiotonix, Ardian retains minority stake alongside management
• The transaction marks a new chapter of growth for the world leader in premium audio equipment and software
• UK-headquartered Audiotonix is now active in 90 countries, with over 750 employees

PAI Partners (“PAI”), a pre-eminent private equity firm, and Ardian, a world-leading investment house, today announce that they have agreed a deal for Audiotonix, a global leader in the professional audio mixing console and ancillary products market. Upon completion, PAI will acquire a majority stake and become the largest shareholder in Audiotonix, with Ardian retaining a minority stake alongside management.

Headquartered in the UK, Audiotonix specialises in designing, engineering and manufacturing products that enable outstanding sound quality for a variety of formats, from blockbuster live tours and concerts, theatre shows and major international live events to TV, film, music recording, sporting occasions and places of worship. Audiotonix’s products have been used on global tours by artists such as Coldplay and U2, at major sporting events including the Super Bowl and FIFA World Cup, and in iconic venues like the Las Vegas Sphere.

Audiotonix is well positioned within the audio mixing console market and other attractive audio segments with its leading portfolio of prestigious brands, including Allen & Heath, DiGiCo, Calrec, Solid State Logic, Sound Devices, Slate Digital, and sonible, which cater to high-specification professional end-users and sound engineers globally. Backed by an industry-leading management team with an outstanding track record, Audiotonix distributes its products through an international network of more than 400 value-added distributors and partners in more than 90 countries worldwide, with a sizable footprint in North America.

Audiotonix was acquired by Ardian in March 2020. Despite pandemic restrictions, under Ardian’s ownership, the group has continued to expand organically. During this time, the group has secured five strategic acquisitions to further diversify and strengthen its portfolio, developed new market-leading products, increased its focus on software and reinforced its management team. Audiotonix today possesses the most extensive product portfolio in the market.

PAI’s investment will support Audiotonix to leverage sustained and accelerating secular trends towards the experience economy. It will also continue to support further strengthening of the group’s R&D capabilities, foster brand synergies, drive organic growth and pursue strategic M&A opportunities across the audio ecosystem.

“There has been a revolution in the way people enjoy and appreciate all forms of entertainment. When we first invested, we believed the team at Audiotonix were best placed to become a global leader in audio technology. We backed management to invest and build out an R&D team larger than any competitor and one that has consistently delivered technically and commercially outstanding products. We have also supported the business in expanding into software via M&A. Today, Audiotonix is undoubtedly the leading player in a market where we see long-term tailwinds. We want to thank the management team, led by James Gordon, for their exceptional performance, resilience and quick thinking. Audiotonix still has tremendous potential to grow in an evolving global market with the support of PAI.” Olivier Personnaz, Head of Buyout UK and Managing Director, Ardian

“I would like to thank Ardian for the confidence and solid support of Audiotonix, the management team and our staff. The team invested alongside us just as the Covid lockdown began, and from our first meeting were aligned with us, making sure Audiotonix emerged in a stronger position than before. As management, the most critical challenge with a process like this is selecting the right partner moving forward, who understands what the business is today and can get behind the vision of what it can become. With PAI, it is clear this is a team and partner we can take Audiotonix to the next level with, while preserving the passion and energy that have made the group the success it has become in our industry.” James Gordon, CEO, Audiotonix

“We are delighted to partner with James Gordon and the exceptional Audiotonix management team, alongside Ardian, in this next chapter of growth. Audiotonix is well placed to benefit from positive structural tailwinds in the experience economy and diverse professional audio environments – whether in live entertainment, installed professional audio, music or sports. We look forward to working with the team as the group continues to deliver market-leading, professional products, defining audio experiences worldwide.” Colm O’Sullivan and Neil McIlroy, Partners, PAI

LIST OF PARTICIPANTS

  • ARDIAN

    • GOLDMAN SACHS (KHAMRAN ALI, ANDRE KELLENERS, OWAIN EVANS)
    • ALLEN & OVERY (STEPHEN LLOYD, MONIKA PRZYGODA, TINA BARAZANDEH-NEJAD)
    • MCKINSEY (WESLEY HAYES, ROB HAMILL)
    • PWC (TOM AYERST, KATE CONIBERE)

  • PAI

    • WEIL GOTSHAL & MANGES (JONATHAN WOOD, TOMASZ RODZOCH, PRIYA SHAH)
    • MCKINSEY (SEBASTIAN GIMENEZ, GUILLAUME CAZALAA, KAYLA MIELE)
    • ALVAREZ & MARSAL (CHRISTOPHER POWELL, ALEX SAKLOW, NICK WALTON, RUHI AGARWAL)

  • AUDIOTONIX

    • LIBERTY CORPORATE FINANCE (SIMON HILL)
    • MACFARLANES (STEPHEN DREWITT, EMMA BAILEY)
    • PWC (SHARON CHAKKAR)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT PAI PARTNERS

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. The Firm has c. €27 billion of assets under management and, since 1994, has completed over 100 investments in 12 countries and realised more than €24 billion in proceeds from 60 exits. PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivalled sector experience, and long-term vision enable companies to pursue their full potential – and push beyond. Learn more about the PAI story, the team and their approach at: www.paipartners.com.

www.paipartners.com

ABOUT AUDIOTONIX

Audiotonix is a global market leader in the design, engineering and manufacture of professional audio mixing consoles, production software and ancillary products. With pioneering solutions from premium audio brands Allen & Heath, Calrec, DiGiCo, DiGiGrid, Fourier Audio, Harrison, KLANG:technologies, Slate Digital, Solid State Logic, sonible and Sound Devices, our products are used extensively in live sound, broadcast, theatre production, installations, house of worship, TV and film production, music creation and recording studios.

audiotonix.com

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Bridgepoint agrees sale of investment in Dorna Sports to Liberty Media

Bridgepoint

Bridgepoint today announced the sale of its investment in Dorna Sports S.L. to Liberty Media in a transaction which values the company at €4.2 billion.

Dorna is the international sports management, media and marketing company which holds the global rights to organise the MotoGP and WSBK Championships, which together represent the two pre-eminent motorcycle racing series in the world. Bridgepoint has been an investor in the business since 2006.

The transaction represents a full realisation of Bridgepoint’s existing stake along with that of Canada Pension Plan Investment Board (‘CPP Investments’) and management, to Liberty Media, which holds the exclusive commercial rights for the FIA Formula One World Championship.

William Jackson, chairman of Bridgepoint Group plc and of Dorna Sports S.L. said: “We’re proud to have partnered with Dorna and its management team for the past 18 years during which time Moto GP has become one of the true global sports brands and enjoys huge success. The partnership has seen MotoGP grow its fan base across five continents and become the world’s most exciting sport.”

The transaction is subject to customary conditions and regulatory approvals. The transaction is expected to complete later in 2024.

Advisers for Bridgepoint included: Financial – Moelis (company, Bridgepoint, CPP); Morgan Stanley (CPP); Legal – Latham & Watkins; Garrigues (management); Uria (company); Accounting – Deloitte; Tax – EY.

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Litorina sells KungSängen to a consortium

Litorina
  • Litorina has signed an agreement to divest KungSängen, a leading direct-to-consumer bed specialist in Sweden, to a consortium with main financier being KAMJO Design & Hantverk.
  • KungSängen’s position in the market has been strengthened during Litorinas ownership by many improvements, such as modernizing the physical showrooms and improving e-commerce, integrated to enable true OMNI-channel experience.
  • KungSängen has been affected by several aspects related to the general economic development and downturn during last two years. The company has adapted to these changes and made the operations more resilient going forward, while continuing to deliver high-quality products and services to its customers.
  • The sale of KungSängen marks the 9th exit for the Litorina IV fund.
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Apiary Capital exits TAG to ECI Partners

Apiary Capital

Apiary Capital exits award-winning travel firm TAG to ECI Partners, delivering a 4x return

Apiary to ECI

TAG is the leading travel management provider to the international live music and entertainment touring industry. Founded in 1988, TAG arranges complex travel itineraries for performing artists and supporting crews, and for major film and television productions, as well as servicing the high-touch segment of the corporate travel market.

Apiary Capital invested in TAG in April 2018 and has supported the management team in making eight successful acquisitions and expanding the business’s geographic footprint to 12 offices employing over 450 people across the UK and Aisa-Pacific.

Jens Penny, TAG CEO, commented: “Today is a fantastic milestone in our evolution, as we thank Mark, Jess, Nicki and all the team at Apiary for the unwavering help and support they have given us over the last six years and proudly announce the investment by ECI. With our entertainment and corporate clientele and the incredible TAG team, we are very confident that this partnership will deliver a host of new benefits and opportunities. We look forward to an exciting journey ahead with ECI as our partner.”

Mark Salter, Managing Partner at Apiary Capital, commented: “We are incredibly proud to have been part of the amazing journey that TAG has been on since our investment in 2018. Jens and his team have done a fantastic job expanding TAG into new geographies and markets, more than doubling the size of the business on the way. We are delighted to pass the baton on to ECI who are the right partner to take the business forward and support it through its next phase of growth.”

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Hendi announces partnership with 365 Capital to accelerate European growth in the coming years

365 Capital

Hendi, founded in 1934, is a European distributor of non-food catering supplies and kitchen equipment for the professional kitchen. Hendi has a wide range of ~4,500 mostly in-house designed products across ~20 different product groups (ranging from small kitchen accessories to large electrical appliances) and sells its products under its own brand. Hendi sells its products through an extensive network of distributors and renowned wholesalers to professionals in more than 60 countries. Hendi generated >€150m revenue in 2023 and serves its customers with ~400 employees from offices in eight countries (Netherlands, Poland, Austria, Italy, Romania, Spain, Greece and Hong Kong) and distribution centres in six countries (Netherlands, Poland, Austria, Romania, Spain and Greece).

The owners of Hendi chose to partner with 365 Capital to further strengthen the organisation to better respond to the opportunities the company sees and to accelerate its European growth plan. Important pillars of the growth plan for the coming years are the expansion and strengthening of Hendi’s presence in the major European hospitality countries and optimisation of the product range. Tom Buch and Jolanta and Maksymilian Kultys will remain involved in the company in their current roles and nothing will change for the employees, customers and suppliers.

365 Capital is a private equity firm active in the (lower) mid-market segment of the Dutch market and focuses on ambitious companies with their headquarters in the Netherlands. 365 Capital is investing in Hendi from its first fund which was closed in April 2021 at €165m. The investment in Hendi is expected to be the last investment from the first fund and 365 Capital will begin fundraising for fund 2 in Q2.

Tom Buch, Jolanta Kultys and Maksymilian Kultys (Hendi): “We are very pleased with the partnership with 365 Capital and believe that their entrepreneurial nature and professional way of working fits well with the culture within Hendi. Through this partnership, we will increase the company’s strength, allowing us to serve our customers even better and accelerate our growth ambitions.”

Hayo van Houten (365 Capital): “We are extremely impressed by Hendi’s growth over the past 10 years and Hendi’s unique position in the European market. Hendi has a broad and loyal customer base who highly value Hendi’s wide range of high-quality products and fast delivery. We are also very impressed by the strong culture and ambition within the company. We look forward to working with Tom, Jolanta, Maksymilian and the broader Hendi team to realise our joint ambitions in the coming years.”

The owners of Hendi were advised by Marktlink (sell-side M&A and legal) and Deloitte (legal).

365 Capital has been advised by OC&C (commercial), KPMG (financial), JB Law (legal), Avaxa (financing) and DLA Piper (legal). The lenders were advised by Clifford Chance (legal).

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Platinum Equity Completes Acquisition of Horizon Organic and Wallaby from Danone

Platinum

Leading dairy products brands projected to benefit from Platinum Equity’s carve-out experience and operational expertise

LOS ANGELES (April 2, 2024) – Platinum Equity today announced that the acquisition of a majority interest in Horizon Organic and Wallaby from Danone has been completed.

Horizon Organic is the largest USDA-certified organic dairy brand in the world and is a pioneer in dairy beverages, having introduced the first organic milk available coast to coast in the United States in 1991. Horizon Organic’s portfolio of organic dairy products includes milk, creamers and whiteners, yogurt, cheese and butter.

The acquisition also includes the Wallaby brand, an Australian-inspired Greek-style yogurt made with organic milk and premium ingredients.

Platinum Equity Completes Acquisition of Horizon Organic and Wallaby from Danone

“Horizon Organic is an iconic name in dairy that is well recognized and beloved by consumers,” said Platinum Equity Co-President Louis Samson. “The brand has earned a reputation for quality and innovation that is unmatched in the industry. We appreciate Danone’s confidence in our ability to build on that legacy and support Horizon Organic’s growth as a standalone company.”

The US dairy category is estimated at $68 billion with milk comprising approximately $17 billion of that total.

“Premium offerings, including organic and value-added products, are driving the growth in the dairy milk category,” said Platinum Equity Managing Director Adam Cooper. “Horizon Organic is a pioneer of that segment and is in position to continue capitalizing on and accelerating the trend.”

Platinum Equity has decades of experience acquiring and operating global businesses that have been part of large corporate entities. The firm recently announced the pending acquisition of Kohler Energy from Kohler Co. In recent years Platinum Equity has also acquired businesses from firms like Ball Corporation, Caterpillar, ConAgra, Emerson Electric, Ingersoll Rand and Johnson & Johnson, among others.

“We are excited about Horizon Organic’s potential as an independent business with a renewed sense of focus and a commitment to investing in its success,” said Cooper. “We have a lot of experience supporting food and beverage businesses. We look forward to partnering with Horizon Organic’s management team to ensure a seamless transition and chart a path for continued growth and expansion.”

“With confidence in our brands and people, we are excited to build a bright future for Horizon Organic,” said Horizon Organic CEO Tyler Holm. “Leveraging Platinum’s operational capabilities and expertise, we’re well positioned for growth and accelerated performance to best serve our customers and consumers while deepening our farmer partnerships and focusing on breakthrough product innovation.”

Platinum Equity’s current portfolio includes Biscuit International, a European manufacturer of private-label sweet biscuits, wine producer Fantini Group Vini and seafood provider Iberconsa. Previous Platinum Equity investments include JM Swank, a food ingredients distributor acquired from ConAgra, and Harvest Meat Company, a US distributor of packaged meat and bakery products.

Morgan Lewis served as legal advisor and Alston & Bird served as debt financing counsel to Platinum Equity.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About Danone (www.danone.com)

Danone is a leading global food and beverage company operating in three health-focused, fast-growing and on-trend Categories: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition. With a long-standing mission of bringing health through food to as many people as possible, Danone aims to inspire healthier and more sustainable eating and drinking practices while committing to achieve measurable nutritional, social, societal and environment impact. Danone has defined its “Renew” strategy to restore growth, competitiveness, and value creation for the long-term. With almost 90,000 employees, and products sold in over 120 markets, Danone generated €27.6 billion in sales in 2023. Danone’s portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (including AQUA, Blédina, Bonafont, Cow & Gate, Mizone, Oikos and Silk). Listed on Euronext Paris and present on the OTCQX platform via an ADR (American Depositary Receipt) program, Danone is a component stock of leading sustainability indexes including the ones managed by Moody’s and Sustainalytics, as well as MSCI ESG Indexes, FTSE4Good Index Series, Bloomberg Gender Equality Index, and Access to Nutrition Index. Danone’s ambition is to be B CorpTM certified at global level in 2025.

About Horizon Organic®

Horizon Organic has been producing great-tasting organic milk since 1991. From the start, Horizon has remained committed to protecting a healthy planet and hasn’t stopped working toward raising the bar as a leading organic milk producer in the U.S. In 2017, Horizon Organic became a brand of Danone North America. Today, Horizon works with more than 600 family farmers across the U.S. For more information on Horizon’s full portfolio of organic dairy products, visit Horizon.com.

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Flexpoint Ford Partners with Accuserve to Continue Expansion and Growth Strategy

Aquiline

DENVER, March 28, 2024 /PRNewswire/ — Accuserve Solutions (“Accuserve” or the “Company”), an independent managed repair services platform, and Aquiline Capital Partners LP (“Aquiline”), a private investment specialist in financial services and related technologies, announced today that they have reached an agreement for a majority investment from Flexpoint Ford (“Flexpoint”), a private equity firm specializing in investments in the financial services and healthcare industries. Flexpoint’s partnership is expected to accelerate Accuserve’s growth as it continues to develop value added property claims solutions for insurance carriers, homeowners, and contractors.

Accuserve is a fast-growing full-service managed repair and home services platform, connecting insurance carriers, homeowners, and contractors through a unified platform that simplifies the property restoration and claims process from incident through repair. The Company has invested significantly in technology to ensure improvement in the property claim workflow with the ultimate objective of removing pain points for all stakeholders.

Flexpoint’s investment, alongside the continued support from Aquiline, is expected to bring significant financial resources, industry expertise, and relationships to Accuserve to further drive continued growth and deliver industry-leading services to its customers. The partnership with Flexpoint will enable Accuserve to expand its contractor networks and service offerings in complementary markets, pursue strategic acquisitions, and enhance its sophisticated technology and data analytic tools.

Hunter Powell, Accuserve’s CEO, has led the company since 2020 and has grown Accuserve to become one of the leading companies in the managed repair market. Mr. Powell, alongside the existing management team, will continue to lead Accuserve during this next phase of growth.

“This investment in Accuserve marks a significant milestone for our Company. Flexpoint’s support will provide the capital and strategic insight needed to continue innovating and developing industry-enhancing solutions for our clients and enable Accuserve to execute on its long-term growth plan. We are grateful for Aquiline’s partnership and look forward to this next chapter,” said Hunter Powell.

Dominic Hood, Managing Director of Flexpoint, commented: “We are excited to partner with Hunter and the Accuserve team as they build an innovative managed repair experience that will deliver claims efficiency to insurance carriers as well as a high-quality experience for policyholders.”

Jennifer Kim, Principal of Flexpoint, added, “Our partnership with Accuserve and Hunter extends Flexpoint’s long track record of partnering with growth-oriented founders in the insurance sector. We look forward to working with Accuserve as it continues its strong growth trajectory.”

Aquiline will remain a significant minority shareholder and will continue to support the Company. “We are delighted to have been able to work so closely with Hunter and the management team over the last few years. We are very proud of their success in building Accuserve’s scale, team and technology and are excited to remain significant investors during this next phase of growth,” said Charles Janeway, Principal of Aquiline.

Waller Helms Advisors and Jefferies LLC acted as financial advisors to Accuserve and Willkie Farr & Gallagher LLP acted as legal counsel in connection with the transaction. Piper Sandler & Co. acted as financial advisor to Flexpoint and Kirkland & Ellis LLP acted as legal counsel in connection with the transaction.

About Accuserve Accuserve is a full-service managed repair platform that provides concierge-style property restoration services. With expertise in water mitigation, interior general contracting, exterior restoration, as well as windows, Accuserve unifies its contractor and carrier partners in delivering an empathetic home restoration experience for property owners. Accuserve’s national network of contractors, partnered with its expert staff and supported by its innovative, unique training and customer support capabilities, deliver high levels of accuracy and tailored service. For more information, visit: www.accuserve.com

About Flexpoint Ford Flexpoint Ford is a private equity investment firm that has approximately $8.1 billion of regulatory assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments across a broad range of investment sizes, structures, and asset classes. Flexpoint Ford has offices in Chicago, Illinois, and New York, New York. For more information, visit: www.flexpointford.com

Media Contact Prosek Partners on behalf of Flexpoint Ford | Email: pro-flexpointford@prosek.com

About Aquiline Aquiline Capital Partners LP is a private investment specialist based in New York, London, Philadelphia, and Greenwich. It invests across financial services and related technologies. The firm has $10.1 billion in assets under management as of September 30, 2023. For more information, visit: www.aquiline.com

Media Contact Apella Advisors | Email: aquiline@apellaadvisors.com

SOURCE Flexpoint Ford

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Egeria enters new partnership with Meyer Menü

Egeria

Egeria is pleased to announce that it has entered into an agreement to acquire Meyer Menü, a German provider of a meals on wheels lunch service, together with its management team.

The transaction follows the succession of the current majority shareholder and member of the founding family, Thomas Meyer. The two Co-CEOs Marcel Hoffmann and Christian Seidel will reinvest alongside Egeria and continue to drive the success and growth of Meyer Menü. Financial terms of the transaction, which is subject to regulatory approval, are not being disclosed.

Meyer Menü is a leading provider of a meals on wheels lunch service founded in 1963 by the Meyer family. Over the years, the company has expanded its geographical reach to six industrial kitchen sites and twenty additional distribution hubs across Germany. The company is characterized by a high level of vertical integration from meal production in its commercial kitchens to the delivery of meals through its in-house vehicle fleet and drivers. The Meyer Menü brand is well known for industry-leading meal quality among its customer base which includes senior households, children daycare facilities, schools, and corporate clients.

Under the current management team, consisting of Co-CEO Marcel Hoffmann and Co-CEO Christian Seidel, the company has made multiple strategic acquisitions and has launched several operational excellence initiatives. Going forward, the management team will partner with Egeria to further increase its presence in existing regions and selectively expand into new regions.

Marcel Hoffmann and Christian Seidel, Co-CEOs at Meyer Menü
We welcome Egeria as a new partner to the Meyer Menü family. Over the last thirteen years, we have continuously developed Meyer Menü into the market leader for meals on wheels in Germany. We believe that Meyer Menü is ready for new growth initiatives and see Egeria as the ideal partner for this new phase.

Hannes Rumer, Partner at Egeria
We are very impressed by Meyer Menü’s historic development and excited to team up with Mr. Hoffmann and Mr. Seidel for the company’s next chapter. The management’s entrepreneurial spirit and Meyer Menü’s strong value proposition are the foundation for its high reputation among customers and its market leadership. We are honored that Mr. Meyer trusts us in continuing his family heritage and we look forward to contributing to the future success of the company.

About Egeria
Established in 1997, Egeria is an independent investment company focused on mid-sized companies in the DACH region and the Netherlands. Egeria invests in healthy businesses and believes in building businesses jointly with entrepreneurial management teams (Boldly Building Together). Egeria has interests in 22 companies in Germany, the Netherlands and the U.S. Egeria’s portfolio companies generate combined revenues of more than EUR 3 billion and employ more than 12,500 people.

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CVC funds invest in Monbake Group to support its growth strategy

CVC Capital Partners
  • Ardian, Alantra, Artá, and Landon have agreed to sell their stake in Monbake to CVC funds after successfully completing the objective they set themselves, in which the Monbake Group has consolidated its position as one of the three main producers and distributors of frozen dough at national level.
  • Monbake’s management team has found in CVC its ideal partner to further pursue its strategic plan. CVC’s expertise will contribute significantly to the company’s global expansion strategy and enhance its innovation capabilities.

CVC, a leading global private markets manager, announces CVC funds’ investment in Grupo Monbake, a leader in the frozen dough sector in Spain, to support its continued growth. CVC funds are acquiring the entire stake in Grupo Monbake that was previously held by Ardian, one of the world’s leading private equity firms, and its co-investors in this project (Alantra, Artá, and Landon).  The price of the transaction has not been disclosed.

Monbake was created in February 2018, when Ardian bought the companies Berlys and Bellsolá, independently, with the aim of leading the frozen dough sector in Spain. For months, the Ardian team worked to validate that the union of Berlys and Bellsolà represented an excellent industrial and strategic opportunity to consolidate a group with greater production capacity and commercial coverage, greater growth potential and innovation capacity. During the years that Ardian has been part of Monbake, the company has consolidated its position as one of the three main producers and distributors of frozen pastry at a national level, with a solid commercial and industrial structure and a wide network of shops.

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. Monbake’s new shareholder, CVC funds, has deep experience in the sector and endorses the roadmap set out for the company. CVC will support the company’s day-to-day operations, and is fully committed to the current management team and the company’s global expansion strategy. It will also uphold the company’s current focus on employment, quality, innovation, commitment to long-term relationships with suppliers and service to customers in more than 30 countries where it currently operates.

Aurelio Antuña, Monbake CEO, comments “We would like to thank Ardian for their strong support and commitment to Monbake’s growth over the past six years. At the same time, we are proud of CVC’s decision to support our company in its consolidation and continued growth phase. We are convinced that CVC is the right partner to take Monbake to the next level, and we look forward to working with them over the coming years”.

“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. We have full confidence in the management team and we will work closely with them to implement the company’s global growth strategy and strengthen its innovation capabilities to secure its position as an industry leader.” Stated José Antonio Torre de Silva, Partner at CVC

“It has been an incredible journey with a fantastic team of professionals and management. We are very proud to have contributed to the creation and development of Monbake, which is now a strong, innovative international group with operations in over 30 markets”. Concluded Gonzalo Fernández Head of buyout Spain & Portugal & Managing Director, Ardian Spain (Advisor to Ardian France).

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CVC funds invest in Monbake Group to support its growth strategy

Ardian

Ardian, Alantra, Artá, and Landon have agreed to sell their stake in Monbake to CVC funds after successfully completing the objective they set themselves, in which the Monbake Group has consolidated its position as one of the three main producers and distributors of frozen dough at national level.
Monbake’s management team has found in CVC its ideal partner to further pursue its strategic plan. CVC’s expertise will contribute significantly to the company’s global expansion strategy and enhance its innovation capabilities.

CVC, a leading global private markets manager, announces CVC funds’ investment in Grupo Monbake, a leader in the frozen dough sector in Spain, to support its continued growth. CVC funds are acquiring the entire stake in Grupo Monbake that was previously held by Ardian, one of the world’s leading private equity firms, and its co-investors in this project (Alantra, Artá, and Landon).  The price of the transaction has not been disclosed.
Monbake was created in February 2018, when Ardian bought the companies Berlys and Bellsolá, independently, with the aim of leading the frozen dough sector in Spain. For months, the Ardian team worked to validate that the union of Berlys and Bellsolà represented an excellent industrial and strategic opportunity to consolidate a group with greater production capacity and commercial coverage, greater growth potential and innovation capacity. During the years that Ardian has been part of Monbake, the company has consolidated its position as one of the three main producers and distributors of frozen pastry at a national level, with a solid commercial and industrial structure and a wide network of shops.
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. Monbake’s new shareholder, CVC funds, has deep experience in the sector and endorses the roadmap set out for the company. CVC will support the company’s day-to-day operations, and is fully committed to the current management team and the company’s global expansion strategy. It will also uphold the company’s current focus on employment, quality, innovation, commitment to long-term relationships with suppliers and service to customers in more than 30 countries where it currently operates.

Aurelio Antuña, Monbake CEO, comments “We would like to thank Ardian for their strong support and commitment to Monbake’s growth over the past six years. At the same time, we are proud of CVC’s decision to support our company in its consolidation and continued growth phase. We are convinced that CVC is the right partner to take Monbake to the next level, and we look forward to working with them over the coming years”.

“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. We have full confidence in the management team and we will work closely with them to implement the company’s global growth strategy and strengthen its innovation capabilities to secure its position as an industry leader.” Stated José Antonio Torre de Silva, Partner at CVC

“It has been an incredible journey with a fantastic team of professionals and management. We are very proud to have contributed to the creation and development of Monbake, which is now a strong, innovative international group with operations in over 30 markets”. Concluded Gonzalo Fernández Head of buyout Spain & Portugal & Managing Director, Ardian Spain (Advisor to Ardian France).

ABOUT CVC

CVC is a leading private equity and investment advisory firm with a network of 29 offices throughout EMEA, the Americas, and Asia, with approximately €186 billion in assets under management. CVC has seven complementary strategies across private equity, secondaries, and credit, for which CVC funds have secured commitments in excess of €230 billion from some of the world’s leading institutional investors. Funds managed or advised by CVC are invested in over 125 companies worldwide, which have combined annual sales of approximately €166 billion and employ more than 590,000 people.

All figures as of 10 December 2023, and adjusted to reflect the agreed acquisition of DIF Capital Partners announced in September 2023 (closing of which is subject to regulatory approvals), unless otherwise indicated.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ABOUT MONBAKE

The MONBAKE Group is one of the largest companies producing frozen dough and Bakery Café products in Spain. It manufactures, distributes and markets bread, pastry and cake products both for the home market and abroad, with a presence in over 30 countries.

PRESS CONTACT CVC

MARIBEL ALONSO RITA PORTUGAL

malonso@grupoalbion.net+34 91 531 23 88

PRESS CONTACT ARDIAN

LLORENTE Y CUENCA

ANTONIO GARCÍA

ardian@llorenteycuenca.com

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