Private markets manager CVC is investing in Grupo Monbake, a leader in the frozen dough sector in Spain. CVC funds are acquiring the entire stake in Grupo Monbake that was previously held by private equity firm Ardian 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, and consolidated them. During the years that Ardian has been part of Monbake, the company grew to become one of the main producers and distributors of frozen pastry in Spain, with a wide network of shops.
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 stated in an announcement. 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 honored 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).
Photo: Berlys (a Monobake brand)
