Real Good Food acquires Chantilly Patisserie for £1.75m as part of expansion strategy .Its subsidiary Haydens Bakery has concluded the deal which will see Devon-based Chantilly Patisserie run as a trading division of Haydens.
Chantilly produces high quality, hand-made frozen desserts, supplying the foodservice sector, with customers such as Marston’s Brewery, Warner Leisure, Brakes, and Country Range.
The business complements the offering of Haydens and it is envisaged that significant commercial opportunities for both businesses will be identified as a result of the takeover, Real Good Food said.
For the nine months ending December 2015 Chantilly had a turnover of £2.2m, earnings before costs (EBITDA) of £400,000, and was debt free. For the 12 months ending March 2015 the business had a turnover of £2.5m, EBITDA of £500k.
Pieter Totté, Executive Chairman, commented, 'The acquisition of Chantilly opens up a new channel for us as they have already impressively established themselves as a supplier of quality products to the important and growing food service sector.
'We will continue to identify and complete bolt-on acquisitions as we seek to reach greater scale within our three pillar markets of cake decoration, food ingredients and in this case premium bakery.
'As we are clearly demonstrating, acquisitions will enhance our offering by targeting new sectors, product lines and geographies, as well as being earnings accretive.'