Buy-out of Bolster in Market Food Group
September 21, 2022
Yuno Advisors has advised the remaining shareholders of Market Food Group (“MFG”), producer of bread and confectionery products and holding company of franchise formats such as ‘t Stoepje and Le Perron – on its buyout of private equity firm Bolster Investment Partners.
After a successful collaboration of more than 6 years, in which Bolster actively supported the company in its growth strategy, Market Food Group and Bolster part ways. During this period, the company has strengthened its market position, successfully rolled out its Stoepje 2.0 formula and showed ample growth in the online retail segment (meal boxes).
Market Food Group (www.marketfoodgroup.nl) has been operating as a bread and pastry bakery since 1979 with several well-known franchise formulas, such as ‘t Stoepje and Le Perron. With 115 franchisees, these formulas are present at more than 600 markets throughout the Netherlands and at various high-street locations. This makes MFG the market leader in itinerant trade, as well as supplying bread and pastry specialties to Food Retail, Foodservice, Export and for meal boxes. MFG is a flexible specialty bakery employing around 180 people, supplying mainly artisan, healthy, sustainable and sugar-free products to both business customers and consumers.
Bolster Investment Partners (www.bolsterinvestments.nl) is a long-term investor specialised in minority interests. Last year Bolster closed its second investment fund of €250 million. The Bolster Investment Partners team spun off from the bank Van Lanschot Kempen in 2017, where it had been operating Van Lanschot Participaties since 1982. Since then, Bolster has successfully collaborated with more than 100 companies.
Yuno Advisors acted as MFG’s exclusive advisor throughout the process for both the buy-out and arranging complete (re)financing. Our advice included general deal coordination, structuring and modelling of the transaction, assisting in the buy-out negotiations, drafting a letter of intent, preparing a financing memorandum, financial modelling including sensitivity and valuation analyses, receiving and negotiating term sheets for the financing, and negotiating the financing and other process documentation.
Click here for Bolster Investment Partners’ original press release.