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Bridgepoint übernimmt polnischen Biskuithersteller Dr Gerard von Groupe Poult of France
Dr Gerard, a producer of branded and private label biscuits in Poland, has been acquired by Bridgepoint from Groupe Poult of France, for an undisclosed amount.
Established in 1993, Dr Gerard is now a leading biscuit producer in Poland selling its products to all retail formats. The company operates from three sites across Poland where it employs over 950 people and in recent years has developed a growing export business to the wider CEE region having transformed itself from a local company to a significant international player. Today, the business offers its customers a wide range of high quality products in all biscuit segments.
The Polish biscuits market remains fragmented with the top four players holding just over a third of the market. The Polish market is forecast to continue to grow at 6% pa as new product is introduced to the market and consumption converges towards Western European levels. Growth is also expected to be driven by product innovation, a key strength of Dr Gerard.
Dr Gerard CEO Jaroslaw Zawadzki said: “We very much look forward to working with a new financial partner who shares our international growth ambitions as well as our commitment to making Dr Gerard the leader in its home market and provide all retail channels with the best possible products and service. We have a wide range of opportunities to build our brands and expand our business and we are now focused on exploiting them to the full.”
Khai Tan, partner responsible for Bridgepoint’s activities in the CEE region, said: “Dr Gerard has transformed itself into a leading player and is already well positioned for further long term growth in its market following its successful multichannel strategy. With its differentiated and innovative value-for-money products, strong preferred partnership status with its trade customers and robust operational execution, it is set to consolidate its position in Poland and develop a significant international platform in the CEE.”
Advisers to Bridgepoint involved in the transaction were: Lazard , Raiffeisen Investment and Navigator Capital (corporate finance) Ernst &Young (accounting & tax), Dentons (legal), Environ (ESG), Roland Berger (commercial) Marsh (insurance), Newton (operations).
About Dr Gerard
The basis of Dr Gerard’s business is the production of cookies and chocolate products whose quality is a result of the combination of a traditional production of ‘sweet’ products with the most advanced technology currently available on the market. Established in 1993 in Lipiny Stare, Dr Gerard is now one of the biggest and most important producers of confectionery products in Poland. When it first started operations, it produced only four types of shortcrust pastry cookies and a small round gingerbread. After installing a semi-automated production line, the company was able to launch 50 new cookies, which are still very popular among consumers today. In 1999 the company undertook an intense process of modernisation. Today, the company has a fully automated production line, and produces an attractive portfolio of over 200 types of cookies and biscuits.
Bridgepoint is a major international private equity group focused on acquiring well‐managed companies in attractive markets with the potential to grow organically or through acquisition. With over €12 billion of capital raised to date, it is especially interested in acquiring well-managed businesses with strong market positions and earnings growth potential where significant additional value can be created through expansion and operational improvement. These companies are typically valued between €200 million and €1 billion. In addition, the Group also has a separate lower mid‐cap business (Bridgepoint Development Capital) which focuses on the acquisition of companies typically valued between €50 million and €200million.
The Firm invests in six principal sectors: business services, consumer, financial services, healthcare, manufacturing & industrials and media & technology. Bridgepoint has offices throughout Europe in Frankfurt, Istanbul, London, Luxembourg, Madrid, Milan, Paris, Stockholm and a portfolio development office in Shanghai. Bridgepoint is currently investing a €4.8 billion buyout fund, Bridgepoint Europe IV.