LBO France has announced the sale of Groupe Poult’s Polish activities to Bridgepoint, for an undisclosed amount.
Established in 1993 and operating under the Dr Gerard brand, the business was acquired by Groupe Poult in 2010 as part of a build up orchestrated by LBO France. Today it’s a leading biscuit producer in Poland, selling products to all retail formats, operating from three sites in the country and employing 950 people.
As part of the transformation realised by LBO France and under the ownership of Groupe Poult, the Polish business grew significantly, transitioning from a local family owned business to a recognised regional player, notably developing its export business to the wider CEE region and expanding distribution to all retail channels, from traditional to modern channels over the last three years.
The Polish entity’s turnover grew from EUR43 million in 2010 to an estimated EUR57 million for 2013. EBITDA has grown from EUR13 million to EUR14 million, taking into account additional yearly costs of EUR3 million invested by the company in long term fixed costs related to the transformation of the business.
Robert Daussun, President of LBO France, says: “The Dr Gerard brand has benefited greatly from the expertise and industry know-how under the umbrella of Groupe Poult over the past three years. Today’s spin off signals the success of an important industrial transformation, as the Polish entity has now become a significant regional player. Parting ways, both Groupe Poult and Dr Gerard remain firmly on track to continue on their respective growth paths.”
LBO France acquired a majority stake in Groupe Poult in 2007. Excluding the Polish entity, the Group’s turnover has gone from EUR120 million in 2007 to an estimated EUR185 million in 2013, with EBITDA growing from EUR16 million to an estimated EUR25 million over the same period.
