December 19, 2019 / 12:26 PM / 2 months ago

Private equity firm Ardian to buy French food firm Cerelia

PARIS (Reuters) - Private equity company Ardian has agreed to buy Cerelia, a French company that makes pizza dough and cookies and which has around 500 million euros ($556 million) in revenue.

Ardian said on Thursday that it was buying Cerelia from the IK VII Fund. Ardian did not disclose the financial terms, but the Wall Street Journal earlier reported that the deal was worth $900 million.

“We firmly believe that the company’s innovative products, use of technology and sustainability initiatives make Cerelia a leader in the bakery category,” said Ardian executive Thibault Basquin.

Reporting by Sudip Kar-Gupta; editing by Jason Neely

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