Alantra Private Equity and Artá Capital sell Berlys to Ardian multiplying the investment by 3.3x

Date 13 November 2017

Type Alternative Asset Management

Madrid– Berlys, controlled by the funds Alantra Private Equity and Artá Capital, will merger with Bellsolà after being acquired by private equity firm Ardian in order to create a group with a strengthened commercial offering and a broader reach.

Berlys is a company specialized in the production and distribution of bread, bakery and pastry products, confectionery and savoury snacks. Founded in 1994, Berlys is the leading company in the sector in terms of quality, innovation and service, serving more than 25,000 customers in Spain and more than 20 countries in a daily basis through 9 production plants, 25 logistic centers, 26 local offices and more than 70 selling points.

The funds Alantra Private Equity and Artá Capital, Berly’s controlling shareholders since 2011, became a Alantrafor the group development, consolidating its position as a leading and profitable firm within the industry.

The investing group led by Alantra Private Equity generates total gains (including dividends) that amount to €283mn, which represent 3.3x the initial investment and an IRR above 20%.

Berlys and Bellsolà, companies specialized in the production and distribution of bread, bakery, pastry products and savoury snacks, have announced their merger as a response to the dynamics of a global market, which requires increasing production capabilities, innovation efforts, client proximity and flexibility.

The combined Group will be present in 30 countries, have 11 production plants, combined revenues of c. €300mn and more than 1,700 employees. The businesses of Berlys and Bellsolà are highly complementary, especially in terms of product portfolio, technology and global reach.

To guarantee the continuity of both projects, the resulting company will be led by Berlys’ Chairman Julio Muñoz, as Chairman, and by Bosco Fonts, General Manager of Bellsolà, as Chief Executive Officer.

This transaction is subject to approval, amongst others, of the usual suspensive conditions, such as the Spanish National Commission on Markets and Competition (CNMC). Closing is expected by 1Q 2018.