Amsterdam / NL. (npm) The Goldman Sachs Merchant Banking Division and Silverfern announced the intended acquisition of Continental Bakeries from NPM Capital. Continental Bakeries is a leading European bakery group focused on the field of private label biscuits, bread replacements and toasts.
«We are delighted to welcome Goldman Sachs Merchant Banking Division and Silverfern as our new shareholders. With the strong support of our new shareholders we are uniquely positioned to accelerate our growth plan and expand our footprint delivering our strategic plan. I look forward to working closely with them as we continue to expand this great business further in its current home markets and beyond», says Ruud van Henten, CEO of Continental Bakeries.
«Together with the management team and the successful execution of five add-on acquisitions we have transformed Continental Bakeries into a leading private label European Bakery goods platform focused on biscuits, bread replacements and toasts with significant scale in its market segments and a truly European customer base. We would like to thank the whole management team for the exceptional contribution during our ownership», says Johan Terpstra, Investment Director at NPM Capital.
«We are impressed by the quality and the strength of the platform that the management team and employees have built with Continental Bakeries», says Mike Ebeling, Managing Director in the Goldman Sachs Merchant Banking Division. «We see significant potential for Continental Bakeries to accelerate its growth path and to act as a consolidator of the fragmented European baked goods industry. We are excited to be supporting the company’s growth ambitions both organically and through acquisitions».
Final agreement on the transaction is expected shortly after completion of the applicable employee consultation procedures and closing of the transaction will be subject to customary regulatory clearances. William Blair acted as exclusive financial advisor to NPM Capital and OXEYE Advisors as exclusive financial advisor to the Goldman Sachs Merchant Banking Division and Silverfern. Nielen Schuman acted as debt arranger.
About Continental Bakeries
Continental Bakeries is a European bakery group specialized in the production of biscuits, bread replacements and toast. The company focuses on private label products and a number of great own brands such as Haust, Gille, Grabower, Bussink, Brinky and Continental Bakeries. Continental Bakeries has 12 factories in Western Europe with a total of 1’550 employees. All production facilities are certified in accordance with IFS and BRC standards.
About Goldman Sachs Merchant Banking Division
The Goldman Sachs Merchant Banking Division is the primary center for Goldman Sachs’ long term principal investing activity, and Goldman Sachs has operated this business as an integral part of the firm for more than 25 years. The group invests in equity and credit across corporate, real estate and infrastructure strategies and has raised over 145 billion USD of levered fund capital to invest across a number of geographies, industries and transaction types since 1986. With nine offices in seven countries around the world, the Goldman Sachs Merchant Banking Division is one of the largest managers of private capital globally, offering deep expertise and long-standing relationships with companies, investors, entrepreneurs and financial intermediaries around the globe.
About Silverfern
Silverfern is a leader in active global direct investment. Founded in 2001, Silverfern is one of the largest and most successful family office investment clubs in the world. Silverfern invests on behalf of more than 60 of the world’s largest and most sophisticated multi-billion-dollar single family offices and has a global exclusive partnership with the Citibank Private Bank. Silverfern has a unique, conflict-free, active investment strategy, making only direct investments in private equity and real estate transactions in the Americas, Europe and Asia, and operating out of four global offices. Silverfern’s strategy involves actively originating, selecting, and managing their investments, utilizing the firm’s network of deep resources which are similar to those of a strategic investor.
