France-based dessert maker La Compagnie des Desserts (CDD) has snapped up Spanish peer Ice Natur.
In a statement, CDD, which has private-equity firm Argos Wityu as its majority shareholder, said the deal was “motivated by the conviction that both companies have an interest in combining their strengths to improve both their performance and customer service in the desserts market in Spain and Portugal”.
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CDD already has a subsidiary – Pole Sud – in Spain, employing 89 staff. Ice Natur, based south of Barcelona, has 19 employees.
Financial details on the detail were not disclosed. Officials at Argos Wityu had not returned a request for comment at the time of writing.
Argos Wityu, which has been the majority investor in CDD since 2016, describes the company as “one of the leading European producers of frozen desserts and ice creams” for the horeca and foodservice market.
According to figures on the Argos Wityu website, the Group generates revenues “above EUR90m (US$100.8m)” through the operation of three manufacturing plants in France and in the UK, as well as subsidiaries across Europe and the US. Some 45% of CDD’s revenues are generated outside France. Overall, CDD employs 670 staff.
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By GlobalDataArgos Wityu invested in CDD, based in Lézigan-Corbières in France, as part of the firm’s merger with UK business Destiny Foods in December 2016.
