We are delighted to announce we have advised the management team of Delice de France Limited, on the demerger of the company from Aryzta AG.
Established over 30 years ago, Delice de France is the largest specialist distributor of premium frozen bakery products operating in the UK. The Company has a longstanding reputation as a key supplier of innovative, continental, ready-to-bake specialities sourced from leading suppliers across Europe. Delice de France has received numerous awards in recognition of its high-quality innovative product offering.
Jason Metcalf, managing director at Park Capital, advised the MBO team, which was led by Thierry Cacaly, during the negotiations with Aryzta, providing advice on the structure of the transaction and sourcing the finance. Working with Dominic Buch at Caple International, Park Capital secured an eight-year unsecured loan to fund the transaction. In addition, Park Capital worked with Scott Curley from RBS Invoice Finance to provide working capital facilities and Yvonne Miller from Lombard Asset Finance to provide leasing facilities. Legal advice was provided by Bristows LLP.
Thierry commented: “We have been impressed with the professional and personal service which Jason Metcalf and his team at Park Capital have been able to deliver. From the start to finish of the MBO process, Park Capital have been able to offer specific and detailed support and market knowledge; allowing the team at Delice de France to move forward swiftly with our plans. We are now looking forward to embracing a future filled with fantastic opportunities arising from becoming an independent company.”
Jason added: “It was a pleasure to work with Thierry, Anthea and the rest of the team at Delice de France and we wish them every success with the ongoing development of the Delice de France business. We are delighted to have been able to work closely with them to help to realise their goals.”
Dominic stated: “It is a pleasure to work with Park Capital in supporting the team at Delice de France with their MBO. This transaction demonstrates how unsecured funding can form part of a blended finance package, allowing businesses to retain bank relationships and working capital facilities whilst accessing long term debt for growth.”
Scott commented: “I have been delighted to work with Delice De France to assist with their MBO. They have utilised their stellar client base to unlock funds tied up within their sales ledger, to form part of the total funding package required to finance their day 1 commitments. I have been impressed by the quality of information provided by the business and also Jason Metcalf from Park Capital, who acted as a point of reference for us throughout the transaction.
Yvonne added: “Delice de France is a much-loved brand throughout the UK and this MBO will allow for the management team to continue to deliver their sustainable business plan. We have an excellent working relationship with them and with Park Capital and look forward to supporting Delice de France in the future.”