Dr. Oetker acquires frozen cake producer
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Dr. Oetker group has acquired frozen cake maker Coppenrath & Wiese, for an undisclosed sum.
C&W is the European market leader in frozen cakes, pies and pastries, and has estimated sales of around EUR 370m. The company had put itself up for sale last year, as the owners wanted to exit their holdings.
Dr. Oetker, which is believed to have beaten off bids from private equity giants CVC and Cinven, termed the deal a “historic milestone”. It noted that the acquisition gives it a significant presence in the frozen desserts and savouries category.