Paris-based Ardian-backed firm Cerelia has announced the acquisition of US Waffle and that the company has received a strategic equity investment from Continental Grain Company.
Cerelia is a leading manufacturer of fresh, ready-to-bake dough for pie and pizza and ready to heat pancakes, crepes, and cookies, whilst US Waffle specialises in premium pancakes and waffles.
The acquisition comes after the company acquired Wewalka’s North American pizza dough business, both purchases aiming to accelerate expansion in North America.
Walter Kluit, Cerelia’s co-CEO said: “By leveraging Cerelia’s entrepreneurial spirit, industrial technology, and experienced team, we plan to introduce new, innovative products and extend our presence in new channels and territories”.
Christopher Sand, managing director at Ardian Buyout, said: “US Waffle provides an entry point into the attractive breakfast category, where we will leverage Cerelia’s European expertise and technologies in pancake and waffle production. The US Waffle transaction both solidifies our strategic roadmap and underscores the strength of our partnership with the Cerelia team”.