Waterland Private Equity has facilitated the acquisition of Onoré, a leading French artisanal frozen patisserie specialist, by IDAK Food Group, marking a new chapter for the brand in the European premium frozen food sector.

Target Information

Onoré, formerly known as Boncolac, is a renowned French company specializing in artisanal frozen patisserie and snacking. Founded in 1955 and headquartered in Toulouse, Onoré employs approximately 1,000 individuals and generates revenues exceeding €200 million. Under the ownership of Waterland Private Equity since 2022, the company has rapidly evolved into a leading player in the European market for premium frozen foods. The strategic vision for Onoré combines international expansion with targeted acquisitions, positioning it for continued growth.

In just three years, Onoré has capitalized on its strong artisanal expertise and an exceptional portfolio of traditional French pastries to secure its leadership within the sector. Waterland recognized its potential as a non-core asset of the Sodiaal cooperative and facilitated Onoré's journey towards independence and growth. The company's transformation is evident through its successful buy-and-build strategy, which has enabled it to expand its product range and geographical presence significantly.

Industry Overview

The premium frozen food sector in Europe has seen substantial growth, driven by changing consumer preferences and a rise in demand for convenient yet high-quality foods. Countries like France, known for their culinary excellence, have