Bakery firm acquired by Nordic Capital

Bakery chain Lagkagehuset has been acquired by Nordic Capital

Artisan bakery and foodservice chain Lagkagehuset has been acquired by holding company Nordic Capital from its majority shareholder FSN Capital for an undisclosed sum.

Nordic will take control of the Danish firm’s two bakeries in London, which trade under the brand Ole & Steen, as well as its 67 stores across Denmark.

The London bakeries were the first phase of Lagkagehuset’s international roll out, said Nordic, with plans to open a further two in Canary Wharf and Victoria. It planned to increase the number of its UK employees to 200 before the end of this year.

Nordic Capital partner Michael Haaning said: “Nordic Capital has a track record of investments in the food industry and sees great potential in supporting Lagkagehuset in its further expansion.

‘Further develop the company internationally’

“Nordic Capital will leverage its industry expertise within the retail sector to further develop the company internationally, supporting Lagkagehuset’s continued progress and expansion in partnership with the company’s strong management team.”

Lagkagehuset ceo Jesper Friis said the Nordic buyout would help boost the company’s international expansion plans.

“We are excited to have found a strong partner in Nordic Capital, which has the experience, industry knowledge and capital to support us bringing Lagkagehuset to the rest of the world and we are looking forward to the new ownership,” said Friis.

“We have amazing employees and products and expect continued high growth in the coming years.”

The Lagkagehuset chain ranges from large traditional bakeries to smaller urban food-to-go outlets. The company currently employs 1,800 people and has sales of £78.5M.

‘Unique culture and quality products’

FSN Capital partner Thomas Broe-Anderson added: “We started with Ole & Steen and two stores. Today, eight years later, there are 67 stores in Denmark and two in London. Lagkagehuset is above all a fantastic company with a unique culture and quality products.

“The two stores in London are the first expansion beyond Denmark's borders. I can proudly look back on our ownership period.”

There have been a number of acquisitions made by food and drink firms over the past month.

Last month, Northern Ireland food-to-go manufacturer Around Noon acquire premium sandwich and snack maker Chef in a Box for an undisclosed sum.

Meanwhile, film star George Clooney sold his US tequila brand Casamigos to drinks giant Diageo in a deal worth £790M ($1bn).

FoodManufactureJobs Set up a Job Alert

Related News

Members of the baking industry were recognised at this year's Baking Industry Awards. Pictured: David Wright (left) and Richard Cox

Food manufacturers recognised at Baking Industry Awards

Cake and bread maker Finsbury posted sales and profit growth in a ‘challenging’ market

Finsbury posts growth in ‘challenging’ market

Weetabix’s £1.4bn sale to Post Holdings leads our gallery of food and drink industry acquisitions

Food and drink acquisitions of the year so far

Fyffes has expanded its mushroom business in Canada

Fyffes seals mushroom acquisition

Ashley Hicks (Kettle Chips md), Julian Metcalfe and Robert Jakobi (Metcalfe skinny co-owners) (from left to right)

Kettle Foods completes snack acquisition

Boparan Restaurant Holdings owned Giraffe Concepts has acquired restaurant chain Ed's Easy Diner

Boparan buys another food business

FJ Need would be sold to Irish dairy exporter Ornua

Irish dairy exporter to buy Cheshire cheesemaker

Britvic agreed a £55M deal for Bela Ischia

Britvic agrees £55M deal for Brazilian drinks firm

Ferrero – maker of Ferrero Rocher – completed the acquisition of Delacre (Flickr/Snowshot)

Ferrero completes deal for United Biscuits’ Delacre

Tayto Group products will appear in 7,000 more vending machines across England

Tayto snacks to appear in 7,000 vending machines

Greencore share price fell 20p last week

Greencore shares fall 7.5% after US customer deal

Submit a comment

Your comment has been saved

Post a comment

Please note that any information that you supply is protected by our Privacy and Cookie Policy. Access to all documents and request for further information are available to all users at no costs, In order to provide you with this free service, William Reed Business Media SAS does share your information with companies that have content on this site. When you access a document or request further information from this site, your information maybe shared with the owners of that document or information.