BGF has announced the successful exit of St Pierre Groupe, an international market leader in the bakery sector, following its acquisition by Grupo Bimbo, one of the world’s largest baked goods and snacking companies.
BGF originally backed St Pierre Groupe with an £8 million investment in November 2018. The exit has generated a money multiple of 9.6x and an IRR of 85% for BGF.
Headquartered in Manchester, St Pierre Groupe was founded in 1986 by Paul Baker and Jeremy Gilboy. As a specialist branded supplier to the bakery industry, the company provides a range of high-quality products under three distinctive brands – St Pierre, Baker Street and Paul Hollywood. Its products are stocked in over 35,000 retail and wholesale stores worldwide, as well as online in the UK, USA, Europe and the Middle East.
During BGF’s investment period, the business has successfully scaled its operations internationally, including a rapid expansion programme in the USA which now constitutes approximately 50% of the business’ annual sales revenue.
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