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AUA Private Equity sells Indulge Desserts Holdings to Emmi Group

AUA Private Equity Partners (AUA Private Equity) has sold Indulge Desserts Holdings (Indulge Desserts) to Emmi Group (Emmi), a publicly-listed Swiss milk processor which dates back to 1907 when it was founded by 62 dairy farming cooperatives around Lucerne.Over its four year holding period, AUA Private Equity was instrumental in growing Indulge Desserts from a founder-run business to a leading institutional, culinary-driven desserts company. Under AUA Private Equity’s ownership, Indulge Desserts’ top line grew 100 per cent and EBITDA grew over 70 per cent through both organic growth and acquisitions. AUA Private Equity assisted Indulge Desserts in entering, and expanding into, new sales channels (including retail and e-commerce), cultivating innovative new product development, and growing the Company’s Sweet Sofia brand. AUA Private Equity led an accretive acquisition strategy that brought three businesses into the Indulge Desserts family, including Love and Quiches and Joey’s, allowing the Company to develop a holistic and complementary breadth of dessert offerings for foodservice and retail customers.

Steven Flyer, Partner of AUA Private Equity, says: “We are pleased to announce the sale of Indulge Desserts to Emmi Group which we believe is an extraordinary partner to further facilitate growth in the Indulge Desserts’ platform. Our partnership with CEO John Alair-Garcia allowed us to expand our distribution channels, build out our R&D and innovation efforts, and integrate several accretive acquisitions leading to an outstanding result for our partners.”

Andy Unanue, Managing Partner of AUA Private Equity, adds: “Indulge Desserts is emblematic of AUA Private Equity’s investment strategy – partnering with founder/family owners and building an institutional foundation for accelerated growth. We are extremely pleased to celebrate Indulge Desserts and are excited for the next chapter of the Company’s growth.”

John Alair-Garcia, Founder/CEO of Indulge Desserts, adds: “I cannot speak highly enough of the value AUA Private Equity created for my business through operational initiatives, strategic acquisitions, and active sponsorship. They helped drive initiatives in sales, marketing, and operations leading to a great result for our management team, owners, and investors. They have been my like-minded partner from the beginning and I am excited to celebrate this outcome with them.”

The sale transaction was led by Partner Steven Flyer, Managing Director Kyce Chihi, Vice President Jack Lin, and Associate Greg Conway. Harris Williams acted as financial advisor to AUA Private Equity and McDermott Will & Emery provided legal advice to the seller. Additional advisors to AUA Private Equity include Grant Thornton and LEK Consulting.

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