Emmi to acquire French group Mademoiselle Desserts

Emmi to acquire French group Mademoiselle Desserts Keystone-SDA

Swiss dairy products firm Emmi has reached an agreement to acquire the French Mademoiselle Desserts group, which specialises in high-end pastries. The company is worth €900 million (CHF875.3 million).

The deal will enable the Lucerne-based dairy processor to expand its market share in the premium desserts category, and is part of its targeted internationalisation strategy, it announced in a press release on Friday.

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“Our aim is to bring Mademoiselle Desserts’ expertise in the French culinary and pastry arts under the umbrella of the Emmi Group”, and to complement the range with Italian, American and Latin American-inspired desserts, says Managing Director Ricarda Demarmels.

The French group’s current CEO, Didier Boudy, would assume responsibility for the new Emmi “Desserts Powerhouse”, bringing together all dessert brands to pursue the strategic development of this segment.

Mademoiselle Desserts has a leading position in the European desserts market, with twelve of its own production sites in France, England, the Netherlands and Belgium.

With some 2,000 employees, the French group achieved sales of €420 million last year. The value of Mademoiselle Desserts at €900 million corresponds to an implicit Ebitda multiplier lower than that currently negotiated for the Emmi Group.

Completion of the transaction remains subject to consultation with employee representatives and the relevant competition and supervisory authorities. Its financial impact on the current financial year cannot yet be assessed, says Emmi, confirming its targets for 2024 and the medium term, while maintaining its dividend strategy.

Translated from French by DeepL/mga

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