Bindi turns to French patisserie
Acquires Gelpat Tradition and aims to achieve 30% of revenues abroad
Sipa, owner of the historic Milanese brand Bindi, a company controlled by the private equity fund BC Partners Llp (through Forno d'Asolo) has reached an agreement to acquire Gelpat Tradition, a French company owned by the entrepreneur Lionel Fontanille.
Gelpat, with headquarters and production plant in Saint-Auvent, in the Haute-Vienne region in France, and a turnover of about 10 million euros according to what is reported by some French sites, produces high-quality pastry products such as the famous éclair.
Thanks to this operation, the economic terms of which have not been disclosed, the group will be able to strengthen its presence on the French market and continue its international expansion strategy both in Europe and in the United States with the aim, by 2022, of reaching generate over 30% of revenues from foreign markets.
Since the acquisition of Forno d'Asolo in 2018, BC Partners has continued on the path of creating a global player in the bakery and pastry sector. With this latest acquisition, the range offer will also be expanded through the launch of new French haute patisserie specialties in the various distribution channels of the more than 40 markets covered by the group.
EFA News - European Food Agency