Milcamps acquired by Poppies Bakeries
Milcamps acquired by Poppies Bakeries
Transaction
Overview
Spayne Lindsay & Co. is delighted to announce they have advised Poppies Bakeries, a leading Belgian producer of bakery specialties, on the acquisition of Milcamps, a Belgian producer of premium waffles and a subsidiary of Jacquet Brossard (subsidiary of Limagrain)
Founded in 1932 and based in Dour, Milcamps specializes inthe production of three types of waffles: galettes, Liège waffles, and Brusselswaffles, offered in both ambient and frozen formats. Milcamps’ waffles are soldin 15 countries, with Belgium and France as its main markets. In 2024, Milcampsachieved a turnover of more than 16 million euros.
Poppies Bakeries, headquartered in Zonnebeke, is a Belgianfamily-owned food group. For five decades, Poppies Bakeries has stood forentrepreneurship, international growth, and a passion for sweet bakeryspecialties in ambient, frozen, and fresh formats. With the acquisition ofMilcamps, Poppies Bakeries expands its product range and further strengthensits position in the waffle category, both in Belgium and internationally, andnow operates 13 sites in 5 countries, including Belgium, the Netherlands, France,Sweden, and the United States. Today, Poppies Bakeries employs 1,400 dedicatedstaff members and generates a turnover of 450 million euros. With a broadportfolio of biscuits, pastries, macarons, desserts, and donuts, PoppiesBakeries exports to 64 countries.
“The acquisition of Milcamps once again underlines ourgrowth momentum, which is the result of both organic development and strategicacquisitions. With Milcamps, we strengthen our position in the waffle category,both in Belgium and internationally,” said Poppies Bakeries.
Our deep industry knowledge, global perspective and strong relationships make us a trusted advisor to leading consumer companies and investors
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