What we did
Capitalmind assisted the Kremer family all along the disposal process: from identifying the potential French and international acquirers, approaching them to test their appetites, to the execution of a competitive sell-side auction process. Capitalmind supervised VDD works, drafted the marketing documentation, managed the due diligence process and assisted the family in final legal negotiations and in the social process.
About the deal
Pâtisserie Michel Kremer is a French-based company with expertise in the development, manufacturing and commercialisation of high-end frozen artisanal pastry specialties. Founded in 1994, the company is fully owned by the founding family, generates €40m of sales, and has 250+ employees.. PMK’s product range encompasses choux pastry, cakes to share, biscuits, individual deserts and mini pastries. It mainly serves clients active in the areas of bakery, distribution (including freezer centres), food service and catering.
Mademoiselle Desserts is a European leader in the field of frozen premium pastry. For more than 30 years, it has been offering its customers a wide range of quality products mostly under private labels. The group employs 1,400 people and operates 9 production sites: 5 in France, 3 in the UK, and 1 in the Netherlands.
“Pâtisserie Michel Kremer and Mademoiselle Desserts share most of their founding values: product quality, innovation, customer service, but also their human values. Our ranges and know-how complement each other perfectly. For both companies, this transaction seemed natural and logical. The entire Mademoiselle Desserts team is happy and looking forward to welcoming the Kremer team in this exciting development project.” Didier Boudy, CEO of Mademoiselle Desserts.
“The project proposed by Mademoiselle Desserts was the most relevant and best fit for PKM’s strategy. I am convinced that this new shareholder will contribute very positively to the development of the company in France and internationally while also respecting our culture.” Michel Kremer, founder of the eponymous pastry shop.