Cérélia takes hold of an American pancake and waffle maker | 2021-03-31
PARIS – Cérélia, a Parisian producer of frozen and chilled pasta, announced on March 30 that it had acquired US Waffle, a pancake and waffle producer, and received an equity investment from Continental Grain Co.
“With a proven track record in innovation and quality, we are confident that US Waffle will accelerate our expansion in North America,” said Walter Kluit, co-CEO of Cérélia. “Building on the entrepreneurial spirit, industrial technology and experienced team at Cérélia, we plan to introduce new innovative products and expand our presence into new channels and territories.
US Waffle, Greenville, SC, was founded in 2013. The company’s retail division supplies private label and private label waffles and pancakes to supermarket chains across the United States. The Foodservice / Institutional division supplies products to national restaurant chains, foodservice distributors and other food manufacturers.
Ardian, a private equity firm based in France, owns Cérélia.
“US Waffle provides an entry point into the attractive breakfast category, where we will leverage Cerelia’s European expertise and technologies in the production of pancakes and waffles,” said Christopher Sand, Managing Director of ‘Ardian Buyout. “Operation US Waffle consolidates both our strategic roadmap and underlines the strength of our partnership with the Cérélia team. “
The acquisition of US Waffle is in addition to Cérélia’s North American expansion. The company recently acquired the North American pizza dough business of Wewalka and built a plant in Ohio.
Continental Grain Co. invested earlier in March in Cérélia, backed by Ardian. As part of the investment, Charles Friborg, director of CGC, will join Cécélia’s supervisory board as censor.
“We could not be happier to integrate CGC into Cérélia as an equity investor,” said Guillaume Réveilhac, co-CEO of the president of Cérélia. “Through our years of dialogue, we have developed a mutual respect for each other’s unique capabilities and believe this partnership will strengthen Cerélia’s existing business and provide us with new opportunities to expand our reach into new products and geographies. We believe we have a common vision of Cérélia’s role in the development of the future of the bakery.