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.