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St Pierre Groupe
Food & Drink • North West • Growth
Company
information
Total BGF investment
£8m
Investment date
Nov 2018 - Oct 2022
“BGF has been an excellent partner. Their investment was the catalyst to accelerating our growth, helping us realise our goals of scaling here in the UK, as well as achieving international expansion in key markets.”
Co-Founder of St Pierre Groupe
BGF & St Pierre Groupe
In November 2018, we invested £8m into St Pierre Groupe, an award-winning bakery business, based in Manchester. These funds enabled St Pierre Groupe to accelerate its international growth, and to invest in marketing and brand development.
We also supported the development of the company’s board, including new commercial, finance and marketing director appointments, followed by the appointment of non-executive chair David Milner (later CEO) in 2020.
With our support, the company carried out a highly successful overseas expansion, increasing turnover from £48m in 2017 to more than £100m in 2021. St Pierre Groupe products are now stocked in 35k+ stores worldwide and sold online across Europe, the Middle East, and the US. The US now accounts for ~50% of its annual sales revenue.
Five years on from our initial investment, St Pierre Groupe was acquired by international bakery giant Grupo Bimbo. The exit generated excellent returns, with a money multiple (MM) of 9.6x and an internal rate of return (IRR) of 85% for BGF.
