NETWORK advises the shareholders of coolback on sale to European Bakery Group, a portfolio company of 3i. The business combination of the industrial bakeries coolback and Dutch Bakery creates the European Bakery Group, which is held by 3i . With three plants and a production volume of more than 1.2 billion baked goods p.a., coolback is one of the leading manufacturers of frozen and ambient bake-off (MAP) baked goods for food retailers and foodservice customers. Network Corporate Finance exclusively advised the shareholders of coolback on the transaction.

Transaction

By combining coolback and Dutch Bakery, the newly created European Bakery Group will benefit from a complementary product assortment and customer base across Europe. With the acquisition of coolback, 3i continues its growth strategy in the European industrial bakery market and has created a strong pan-European platform to capitalise on further organic as well as inorganic growth opportunities.

Companies

Founded in 1999, coolback operates three production sites in the Berlin area. With more than 600 employees, the company produces private label frozen and MAP baked goods, including (special) rolls, filled baguettes, organic baked goods and gluten-free products. The sales markets for the more than 1.2 billion baked goods p.a. include food retail and food service in Germany, the Nordics and Poland.