Buyout firm takes control of bakery
28 Nov 2021 - Investment activity
Melbourne buyout firm BGH Capital has taken a controlling stake in breads and cakes business Laurent Bakery.
Laurent Boillon, who was born in the South of France, opened his first French style boulangerie on Toorak Road, South Yarra, Melbourne, in 1993. Since then, Laurent Bakery has added 17 more outlets across Melbourne and become a national supplier of sourdough and artisan bread to Coles.
BGH Capital is believed to have acquired its stake from an exiting investor with founder Boillon retaining his stake.
No value for the investment has been disclosed but BGH typically makes investments of above $100 million and invests in companies with enterprise values of $250 million to $6 billion.
BGH raised an initial $2.6 billion fund in mid-2018.
The firm has invested in companies including education services business Navitas, entertainment venues and cinemas business Village Roadshow, and the Healius medical centres business which it acquired from healthcare company Healius (ASX: HLS). Last year BGH made what was probably its smallest investment in online travel agency business TripADeal.
Most recently, BGH made a $1.3 billion indicative offer to acquire software company Hansen Technologies (ASX: HSN) but pulled out of that deal in early September after completing due diligence.
Image: Laurent Bakery, Kew.