Trowers & Hamlins has successfully advised the management team at Cakesmiths on the reinvestment in their business following the sale by LDC to the French headquartered Onore Food Group, a leading global player in in frozen pastries and snacking products, backed by private equity firm Waterland.
Cakesmiths is an independent manufacturer and supplier of artisan handmade cakes based in Bristol, UK and supplies independent coffee shops and suppliers through the company's unique online model.
In March 2022, Trowers advised Cakesmiths’ management team with its investment from leading mid-market private equity firm LDC to support the next stage of its growth journey . Since then, Cakesmiths has experienced a significant growth in revenue and employment. Over a period of two years, the company’s revenue increased by 164% and EBITDA by 260%. Additionally, the company’s workforce has grown from 110 to over 200 employees .
This transaction showcased our international capabilities and our ability to instruct our Interlaw partner firm UGGC to advise on French law.
Chris Ormrod, CEO of Cakesmiths, said:
“This is the 4th transaction that I have worked on with Stuart and the Trowers team. They are always a pleasure to work with and invariably offer the right advice at the right time. Stuart has that helpful ability to communicate the most complex points in ways that invariably made it easier for me to reach a sensible judgement. They are my go-to legal advisers for all things deal related.”
Corporate Partner, Stuart Mathews, led the UK advice for the Management Team with support from Matt Libby, Corporate Senior Associate. Stuart commented:
"We are thrilled to have had the opportunity to continue working with CEO Chris Ormrod and the management team at Cakesmiths on this transformative transaction. Trowers has a proven track record in the food and drink sector, and we are proud to contribute to Cakesmiths' growth at this exciting time for the business."
