Momentum advised the management team on the sale of Ministry of Cake to pan-European pâtisserie and cake manufacturer Mademoiselle Desserts. Momentum has worked with the Ministry of Cake management team since 2014, having advised on the LDC backed management buyout of the business from Greencore plc.
Headquartered in Taunton in Somerset, Ministry of Cake is the largest foodservice dedicated dessert manufacturer in the UK. It has revenues of £30 million and produces three million slices of cake a week, employing more than 400 people at its factories in Taunton and Torquay. Famous for its chocolate fudge cake, the company supplies major pub and restaurant chains such as JD Wetherspoon, TGI Friday and Whitbread.
Following the acquisition, Mademoiselle Desserts will generate revenues of €210 million and employ more than 1,400 employees across eight production sites in France, the UK and the Netherlands. The group is backed by Equistone Partners.
Momentum provided independent advice to management on the terms of their deal including their reinvestment into Mademoiselle Desserts.