France: Idak Food Group acquires bakery firm Onore

Idak Food Group, the Swiss premium frozen food firm, has reached an agreement to acquire a majority stake in Onore, the France-based frozen bakery and patisserie specialist.

Headquartered in Toulouse, Onore (formerly known as Boncolac) specialises in artisanal frozen desserts, macaroons and savoury snacks. The group operates five production plants in France and two in the UK, employing over 1,000 staff and generating an annual turnover of more than €220 million ($257 million). Its brand portfolio includes Boncolac, Mag’M and So Mochi in France, alongside UK-based Proper Cornish and Cakesmiths.

According to Idak Food Group, the deal significantly strengthens its presence in the key French and British markets. Idak Food Group CEO Christof Lehmann commented: “IDAK and Onoré complement each other perfectly to form a unique and leading company in the premium frozen-food sector in Europe. We share common strengths such as organic growth, diversification of our channels and customer base, and a foothold in several countries”.

Source: Onore / Just Food