Cérélia UK divests its Jus-Rol brand to Rinkelberg Capital

Arrowpoint Advisory’s Consumer, Retail and Leisure sector team has advised the shareholders of Cérélia UK, on its divestment of Jus-Rol's UK and Ireland brand rights to Rinkelberg Capital Limited.

Jus-Rol, was originally founded in 1954 by Tom Forsyth, and is a brand known for its ready-rolled pastry products, including puff pastry, shortcrust pastry, and filo pastry, offering convenience and ease for bakers. Over time, Jus-Rol has become the leading dough-to-bake brand in the UK and Ireland.

Cérélia, was founded in France in 2012, and is renowned for its expertise in the production and distribution of ready-to-bake dough, including refrigerated doughs (for tarts, pizzas, and viennoiseries), as well as pancakes, waffles, and cookies. Due to its sustained organic growth and an ambitious acquisition strategy, Cérélia has become a major player within just 10 years. The group operates 12 production sites, including 9 in Europe and 3 in North America and its products are distributed in over 50 countries under its own brands, private labels for leading global retailers, and through co-manufacturing partnerships.

Cérélia acquired the Jus-Rol brand from General Mills in January 2022 but the CMA soon launched an investigation into the potential impact on competition in the chilled bakery dough category and ultimately ruled that Cérélia must divest the brand.

Rinkelberg Capital Ltd., founded in 2006, is a family run investment office based in London, investing in in a broad spectrum of asset classes, real estate, private equity and private credit with €700m+ AUM. The firm is the dedicated investment office of the founders of TomTom, and typically provides minority growth capital to support organic growth or acquisitions.

Gregoire Julien, Chief Corporate Finance & Strategy Officer at Cérélia Group, commented: “The Arrowpoint Advisory team did a fantastic job of managing the sale process and the multiple stakeholders involved in order to secure a good home for the Jus-Rol brand.”

Gavin Orde, Managing Director at Arrowpoint Advisory, highlighted: “We are delighted to have advised Cérélia on this complex transaction which involved Rinkelberg acquiring the Jus-Rol brand in the UK and Ireland alongside the brand manager and distributor, PA Ross, and all within the restrictions of the CMA regulations. We look forward to seeing the brand’s progress under Rinkelberg’s ownership.”

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