Ardian to acquire Spanish bakery companies Berlys and Bellsola

Food acquisition news : Ardian, a France-based private equity firm has struck a couple of deals to acquire two Spanish bakery companies – Berlys and Bellsola which it plans to merge into a single entity.

Ardian nor the bakery companies have revealed the financial aspects of their deals.

According to food industry news updates, both Berlys and Bellsola manufacture and sell bread, bakery, savoury snacks and pastry products among others.

The combination of the two Spanish bakery companies is expected to have a consolidated commercial offering which will be powered with a broader exposure. Ardian stated that following their merger, it will be the majority shareholder of the combined bakery company.

According to the French private equity company, the new Spanish bakery company made from Berlys and Bellsolà will operate 11 bakery production plants while having reach across 30 countries in the continents of Europe, America and Asia.

Spanish bakery company Berlys bread product. Photo courtesy of Berlys.

The enlarged Spanish bakery company is expected to make annual revenues of nearly €3300m while having a workforce of over 1,700.

Once the merger is done, the newly created Spanish bakery company will carry on with the current product portfolio and brands of Berlys and Bellsolà. It will also retain the same operating structure of the two Spanish bakers.

Commenting on the Ardian acquisition of the two Spanish baking companies, Gonzalo Fernández-Albiñana who is the managing director of Ardian Spain and also the advisor of Ardian France, said: “The priority for Ardian is to guarantee the continuity in the success that both projects had so far, and that the combination of both companies benefits their clients, thanks to better service, more innovation capacities, and a broader offer”.

As per the food industry news reports, Ardian will acquire Berlys from Alantra and Arta Capital who have had controlling stakes in the Spanish baking company since 2011. On the other hand, Ardian will replace Landon Group Corporativo as the majority stake holder of the other Spanish bakery company Bellsola. Landon Group Corporativo will hold a minority stake in Bellsola post transaction.

Julio Muñoz, the chairman of Berlys, on the merger with Bellsola, said: “After our continuous growth over the past few years both in terms of sales and profitability, the combination with Bellsolà will allow us to consolidate our position in the market thanks to an increased production capacity, the expansion of our commercial reach and the increase of our innovation potential.”

On behalf of Bellsola, the Spanish baking company’s General Manager Bosco Fonts said: “The combination with Berlys is an important step for us which acknowledges the work done by our company over the past few years, and will allow to improve our services and boost our business while we maintain our willingness to grow and the constant search for the best possible answer to our customers.”

The transaction pertaining to the two Spanish bakery companies is slated to be closed by the end of Q1 2018. However, for that it would need to be approved by the Spanish National Commission on Markets and Competition (CNMV) besides satisfying other conditions.

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