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Aus producer snapped up in international food market
Allens has acted for the shareholders of Bakery Du Jour in the sale of the business to the international agrifood group, Lantmännen Unibake.
Grace Ormsby
Firm: Allens (Bakery Du Jour shareholders)
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Deal: Allens has acted for the shareholders of Bakery Du Jour in the sale of the business to Lantmännen Unibake.
Value: Undisclosed
Area: M&A, Corporate
Key players: M&A partner Mark Malinas led the Allens team with assistance from senior associate Anna Schwartz and lawyer Yin Lim.
Deal significance: The Victorian-based Bakery Du Jour produces over 100 million pastries annually, according to a statement from Allens, and supplies products to supermarkets, airlines, restaurants, cafés, distributors and food service customers.
With a presence in more than 15 countries, Lantmännen Unibake is an international bakery group specialising in frozen and fresh baked goods.
Commenting on the deal, Mr Malinas said the team was “pleased to have worked with this family-owned Australian business to deliver a strong result in this growing sector.”
“The deal represents continued evidence of increasing investment appetite for businesses in Australia’s food and beverage sector,” he continued.
“It will be interesting to see how sale processes for Arnott’s and Lion Dairy and Drinks go in the remainder of this year.”
“M&A activity in the food sector is a trend we expect to continue in the coming months,” Mr Malinas concluded.
The sale is subject to regulatory approval.
