Swiss dairy conglomerate Emmi has finalized an agreement to acquire French pastry manufacturer Mademoiselle Desserts for €900 million.
This strategic ‘put option’ acquisition aims to expand Emmi’s dessert portfolio, incorporating French-inspired delicacies, according to the company’s statement.
Mademoiselle Desserts operates twelve production facilities across France, the UK, the Netherlands, and Belgium. The company reported €420 million in sales in 2023 and employs around 2,000 staff members.
Headquartered in Montigny-le Bretonneux, near Paris, Mademoiselle Desserts supplies a range of pastries, cakes, tarts, and donuts to various clients including bars, restaurants, supermarkets, and delivery services across more than 50 countries, such as France, the Netherlands, and Belgium.
Pursuing Global Growth Opportunities
Ricarda Demarmels, Emmi’s general director, emphasized the global growth potential that this acquisition presents in the premium dessert segment. “The acquisition of Mademoiselle Desserts allows us to seize global growth opportunities in the premium dessert category,” Demarmels stated. “Mademoiselle Desserts is a company that shares our entrepreneurial values and, with its B Corp certification, also aligns with our commitment to responsible corporate management.”
Didier Boudy, CEO of Mademoiselle Desserts, is set to oversee Emmi’s expanded dessert portfolio, which already includes other Emmi-owned dessert companies from Italy and the US. Boudy, a seasoned professional, also serves as the president of the Federation of Bakery-Pastry Enterprises (Fédération des Entreprises de Boulangerie/Patisserie, FEB), a role he assumed in 2021.
Expanding Premium Dessert Offerings
Based in Lucerne, Switzerland, Emmi has been broadening its premium dessert offerings since 2011. The company initially incorporated Italian specialties such as tiramisu, followed by American and Latin American-inspired treats in 2020. Over the past three decades, Emmi has completed 45 acquisitions.
The completion of the deal is subject to consultations with employee representatives and regulatory approvals. Despite this significant acquisition, Emmi has reiterated its financial targets and dividend strategy for 2024 and the mid-term.
In a related development, Emmi recently appointed Oliver Wasem as the new chief financial officer and member of group management, effective from July 1, 2024.
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