Clearwater International has advised CM-CIC and the founders of la Compagnie des Desserts on the capital opening of the Group to the investment fund Argos Soditic.
As a result of the merger of Pôle Sud and Gourmet Parisien in 2008, la Compagnie des Desserts is the European specialist in ice cream and frozen dessert dedicated to the out-of-home channels. The Group’s net sales have grown by more than 13% per year since 2014 up to €61 million in 2016.
La Compagnie des Desserts aspires to achieve a turnover of 100 million euros thanks to its development on an international scale (Spain, Great Britain and more recently in the United States through the acquisition of the New York ice cream producer, Mont Blanc). As proof of its momentum, la Compagnie des Desserts is, simultaneously, completing its acquisition of Destiny Foods, a frozen dessert company in the North west of England.
The Clearwater International team, composed of Managing Partner Philippe Guézenec, Director Nicolas Saint-Pierre and Associate Salwa Nadir, advised la Compagnie des Desserts on this transaction.
“CM-CIC Investissement is proud to have contributed to the creation and expansion of the Compagnie des Desserts Group for the last 12 years. We renew our attachment and our confidence in the company’s business model by maintaining a significant stake in the capital as part of the acquisition of Destiny Foods and the arrival of Argos Soditic as a new controlling shareholder. Special thanks to the Clearwater International team for their tailor-made management of this divestiture process. In a disrupted economic context, its involvement and its tight control of a process, open to both financial investors and industrials, successfully led us to this structuring transaction.“
Frederic Plas, Executive Director, CM-CIC
“Clearwater International is pleased to have assisted the shareholders and founders in the sale of their Group. With the support of CM-CIC, Didier Barral has given an international dimension to his traditional craftsmanship. Today, la Compagnie des Desserts is a proven leader of ice cream and frozen premium desserts to the Out-of-home channels in Europe. With the support of Argos, the Group will boost its development and seize new international opportunities.“
Philippe Guezenec, Managing Partner, Clearwater International