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Announced

Completed

Waterland Private Equity-backed Boncolac completed the acquisition of Proper Cornish.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Food Products

bakery

Single Bidder

Cross Border

United Kingdom

Private

Completed

Private Equity

Majority

Friendly

cake shop

Acquisition

Synopsis

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Waterland Private Equity-backed Boncolac, a frozen desserts and catering company, completed the acquisition of Proper Cornish, a bakery and cake manufacturer. Financial terms were not disclosed. “Since 1988 we’ve worked hard to build Proper Cornish to where it is today, and we just know there is so much more potential. As a founding member of Proper Cornish, I was extremely keen to ensure we found the right partner to take the Company to the next level, and I’m confident that Groupe Boncolac is that partner; their brand and people ethics, and their product quality reflect those of Proper Cornish, so I’m really excited for the future of Proper Cornish," Chris Pauling, Proper Cornish Managing Director.

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