Boston, MA -- (SBWIRE) -- 03/19/2012 -- C.W. Downer & Co., a leading middle-market cross-border investment bank, is pleased to announce that Galaxy Desserts, makers of individual, French-inspired gourmet desserts and baked goods, has been sold to Brioche Pasquier Group of France. The transaction closed on January 25, 2012, and the financial terms were not disclosed.
Founded in 1998 and based in Richmond, CA, Galaxy Desserts manufacturers all-natural frozen desserts including mousse cakes, tarts, cheesecakes and baked goods. Their product line has received multiple industry honors including NASFT 2003 Outstanding Dessert of the Year Award for the Grand Sequoia cake, placement on “Oprah’s Favorite Things” lists in both 2002 (Croissants) and 2003 (Molten Chocolate Cake Batter) and “Oprah’s All-Time Classic Favorite Things” 2005 (Croissants). Jean-Yves Charon and Paul Levitan, co-founders of Galaxy Desserts, have retained ownership in the combined venture and will continue to play a role in managing the operation.
Brioche Pasquier Group is a mid-sized family-owned French manufacturer of traditional pastry, brioche, bread and other bakery products. Pasquier is based in les Cerqueux, France. The company was founded in 1974 and has operations in Spain, Belgium, Germany and the UK.
“We were engaged by the shareholders of Galaxy due to our unique combination of food sector experience and capabilities in approaching European buyers,” said Jeff Robards, Managing Director of C.W. Downer & Co. “Our flexible approach to the transaction process facilitated a preemptive deal with Pasquier while keeping options open for engaging with other buyers. The end result is a ‘win-win’ for Galaxy and Brioche Pasquier and a great fit from both a business and a cultural perspective,” stated Robards.
“We are thrilled to have joined forces with Pasquier and its world-class manufacturing capabilities,” said Paul Levitan, President & CEO of Galaxy Desserts in a company release. “We share the same core values along with a dedication to providing the best desserts and pastries on the market. We are excited for what we will build together in the U.S.”
The C.W. Downer & Co. team advising on the Galaxy Desserts sale included Jeffrey Robards (Managing Director, Boston), Gregory Fanikos (Vice President, Boston), Ashley Rountree (Managing Director & Partner, Paris), and Emmanuel Wydooghe (Managing Director, Paris).
About C.W. Downer & Co.
C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 35 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With eight fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.