Coolback GmbH was acquired by European Bakery Group, a 3i portfolio company, aiming to expand its presence in the European industrial bakery market.

Information on the Target

Coolback GmbH, founded in 1999, is a prominent player in the consumer and food industry, specializing in the production of frozen and MAP baked goods. Operating three production facilities near Berlin, the company boasts a production volume of over 1.2 billion baked goods annually and employs more than 600 staff members. Their product range includes private label specialties, organic options, and gluten-free items, catering primarily to the food retail and foodservice sectors in Germany, the Nordics, and Poland.

In July 2023, Coolback's shareholders engaged Network Corporate Finance for advisory services during their sale to European Bakery Group, a portfolio company of 3i. This merger is expected to enhance the product assortment and customer base of the newly formed group, combining Coolback’s operational strengths with those of Dutch Bakery.

Industry Overview in Germany

The industrial bakery market in Germany has consistently demonstrated robust growth, driven by increasing demand for convenient frozen food options. The shift in consumer behavior towards ready-to-eat and frozen