Cérélia is delighted to announce that it has both acquired US Waffle and received a strategic equity investment from Continental Grain Company (“CGC”).
US Waffle specializes in the production of premium pancakes and waffles, using only the finest and freshest ingredients. Founded in 2013, the dynamic company has quickly scaled to support some of North America’s largest brands with on-trend products. Located in South Carolina, US Waffle has remarkable production and distribution capabilities, which can accommodate Cérélia’s ambitious growth plans and meet the high expectations of its customers. Innovation, a key asset of US Waffle, facilitated the development of a high-quality product range that offers both nutrition and quality.
Alongside of US Waffle, Cérélia recently acquired Wewalka’s North American pizza dough business and constructed a new state-of-the-art facility in Ohio to accommodate the rapid growth of its existing products. These acquisitions combined with the new production and distribution capabilities position Cérélia as one of North America’s fastest growing bakery businesses.
Walter Kluit, co-CEO of Cérélia stated: “We are thrilled to welcome US Waffle to Cérélia. With a proven track record of innovation and quality, we are confident that US Waffle will accelerate our expansion in North America. By leveraging Cérélia’s entrepreneurial spirit, industrial technology, and experienced team, we plan to introduce new, innovative products and extend our presence in new channels and territories. Following years of dialogue, we are confident that our new partnership with the US Waffle team will enhance the service for our clients and win the hearts of many more consumers with our quality pancakes and waffles.”
“Cérélia continues to expand rapidly in North America through the addition of US Waffle, the acquisition of the Wewalka pizza business, and its new Ohio facility. US Waffle provides an entry point into the attractive breakfast category, where we will leverage Cérélia’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 Cérélia team,” said Christopher Sand, managing director at Ardian Buyout.
Continental Grain Company investment
Earlier this month, CGC made a strategic equity investment in Ardian-backed Cérélia. The investment comes after nearly two years of dialogue and reflects CGC and Cérélia’s shared ambitions in the bakery category. CGC and Cérélia plan to work together on a number of initiatives to both strengthen the existing operations and accelerate growth.
Guillaume Réveilhac, Co-CEO and president of Cérélia stated: “We couldn’t be happier to bring CGC into Cérélia as an equity investor. Through our years of dialogue, we have developed a mutual respect for each other’s unique capabilities and believe that the partnership will strengthen Cérélia’s existing business and provide us with new opportunities to extend our reach into new products and geographies. We believe that we have a shared vision of Cérélia’s role in developing the future of bakery.”
“We recognize CGC as one of the food industry’s premier investors and believe that their investment in Cérélia confirms the strength of our business and the attractiveness of our expansion plans. Over the last few years, Ardian and CGC have worked together on numerous projects, and we highly respect the unique capabilities and perspective that they will bring to our investment in Cérélia. Our collective efforts should augment Cérélia’s growth and position the Company as one of the leaders in the bakery industry,” said Thibault Basquin, Head of Americas Investments at Ardian Buyout.
“We are very excited to join Guillaume, Walter, Ardian and, most importantly, the whole Cérélia team as strategic investors and partners in the Company. We have been very impressed watching the team, with Ardian’s assistance, grow the business over the last two years in both Europe and North America. We believe that Cérélia has developed an excellent platform on which to continue its remarkable growth and we look forward to supporting the Company in executing its strategic vision,” said Paul Fribourg, chairman & CEO at CGC. As part of the investment, Charles Fribourg, Director of CGC, will join the Cérélia Supervisory Board as an observer.