M&A Deal Summary

Onore Acquires Cakesmiths

On December 15, 2023, Onore acquired food company Cakesmiths from LDC

Acquisition Highlights
  • This is Onore’s 1st transaction in the Food sector.
  • This is Onore’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2023-12-15
Target Cakesmiths
Sector Food
Buyer(s) Onore
Sellers(s) LDC
Deal Type Add-on Acquisition

Target

Cakesmiths

Bristol, United Kingdom
Cakesmiths is an independent manufacturer and supplier of artisan handmade cakes. The business caters with a wide range of palates, including a broad vegan and very-low gluten range. Cakesmiths was founded in 2014 and is based in Bristol, United Kingdom.

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Buyer(S) 1

Buyer

Onore

Toulouse, France

Category Company
Founded 1955
Sector Food
DESCRIPTION

Onore is a manufacturer of speciality food for frozen pastries and snacks with production sites in France and the UK, and worldwide distribution. Onore is based in Toulouse, France.


DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2023 M&A 1 of 1

Seller(S) 1

SELLER

LDC

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 3.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LDC is the private equity and investment arm of Lloyds Banking Group. LDC invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. LDC was formed in 1981 and is based in London.


DEAL STATS #
Overall 194 of 210
Sector: Food M&A 6 of 7
Type: Add-on Acquisition M&A Deals 91 of 97
Country: United Kingdom M&A 188 of 204
Year: 2023 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-24 iamproperty

-Newcastle upon Tyne, United Kingdom

iamproperty specialises in technology-led software, platforms and services that support property professionals and help them to reduce transaction timescales and improve the security of a sale for both buyer and vendor. iamproperty was founded in 2009 and is based in Newcastle upon Tyne, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Message Direct

Ferndown, United Kingdom

Message Direct is an outsourced communications solutions provider to SMEs and large corporates. The company has over 7,600 customers providing operationally critical 24/7 support in dealing with customer leads and inquiries. Message Direct was formed in 1994 and is based in Ferndown, United Kingdom.

Buy -