Paris / FR. (cmcic) France’s La Croissanterie S.A. is entering a new phase of development, supported by its management team and CM-CIC Investissement. La Croissanterie was founded in 1977 and is now a leading player in the French-style fast food market. CM-CIC Investissement is now becoming the company’s new major shareholder, replacing Pragma Capital. The transaction is subject to the approval of the competition authorities and should be effective in early 2017.
La Croissanterie is a leading player in its market with annual revenue of 100 million EUR and 250 restaurants across mainland France, but also in French overseas territories and Africa. The group now manages a third of La Croissanterie’s restaurants directly, and is also working with major partners (oil companies and contract catering groups) to grow its franchise business, particularly in busy travel areas (motorway services, train stations, airports …). La Croissanterie is intended to be a mass-appeal, affordable brand, offering a comprehensive range of products for all times of the day, and operating a number of different retail formats.
The aim of the transaction is to continue developing the chain, a process started by founder Jean-Luc Bret and continued by Marie-Pierre Soury, who has replaced him as chairman. CM-CIC Investissement is giving the management team greater resources with which to seize new growth opportunities, both in France and internationally.