Alantra advises the shareholders of Frial on its sale to Le Duff group

Nov 2021

Sell-side advisory

Paris – Alantra, the global investment banking and asset management specialist, is pleased to announce that it has advised Ares Management Corporation (“Ares”) on the sale of Frial (“the Company”), a producer of frozen culinary solutions, to Le Duff group, a French restaurant conglomerate.

Founded in 1980 in Bayeux, Frial is the French leader in the creation and manufacture of retail branded frozen savory culinary solutions. Acquired by Ares in 2019, the company benefited from an investment program designed to grow its industrial and commercial base.

Frial’s activities are divided into two segments: the design and manufacture of prepared dishes (66% of sales), and frozen seafood products (33% of sales), its historical activity. Frial’s manufacturing process is fully integrated “from the kitchen to the factory,” allowing the production of premium, innovative ready-made meals. In 2021, the company will post sales of over €180 million.

Founded in 1976, Groupe Le Duff is the world’s leading bakery-café company. The group serves more than one million customers every day and generates sales of around €2 billion. The Le Duff Group is present in more than 100 countries around the world through operation of 1,500 restaurants and bakeries. It owes its success to its restaurant brands (Brioche Dorée, Del Arte, Kamps, La Madeleine and Le Fournil de Pierre) as well as to Bridor and Cité Gourmande, which produce premium quality bakery and pastry products as well as vegetables and frozen dishes.

With this transaction, Ares completes a successful divestment in Frial, having supported the Company’s growth since its acquisition from French PE Alpha four years ago. This acquisition also adds on to Groupe Le Duff’s ambitious buy and build strategy, expanding its product offering in the frozen products segment.

“We are proud to have supported Frial’s shareholders in this transaction, which allows the company to become part of a major player in the restaurant and food industry,” commented Franck Portais, Managing Partner at Alantra. “Frial, which has recovered spectacularly in recent years, will now benefit from the dynamism of the Le Duff Group to continue its expansion in a market that remains very buoyant.”