Cérélia has acquired US Waffle and received a strategic equity investment from Continental Grain Company.
Walter Kluit, co-CEO of Cérélia, said, “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.”
Christopher Sand, managing director at Ardian Buyout, added, “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.”
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.”
Paul Fribourg, chairman and CEO, CGC, commented, “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.”