Bretèche Industrie acquires ingredient automation system provider, Shick
Bretèche Industrie Group (“Bretèche Industrie” or “the Group”), a leading manufacturer of equipment for the international food and pharmaceutical industries backed by Equistone Partners Europe and Cerea Capital since 2013, today announces the acquisition of Shick (“the Company”), the US-based provider of ingredient automation systems.
Founded in 1956 and located in Kansas City, Missouri, Shick is a family firm that specialises in automation solutions for the baking industry. The Company is best known for manufacturing silos and dosing equipment for use prior to the kneading phase and generated approximately $50 million in sales last year. Following the acquisition of Shick, the Group expects to generate consolidated sales of nearly €230 million in 2016.
This investment will allow Bretèche Industrie to strengthen its bakery business and further pursue its proactive growth strategy, following the acquisitions of the French company Estève and German company IsernHäger in 2011 and 2015 respectively. It will also enable Bretèche Industrie to establish a presence in the United States, the single largest market for industrial baking supplies; to enhance the group's pre-kneading silo-dosage business; and to generate commercial synergies, particularly through the bolstering of the Group's customer service offering to major corporations.
Bretèche Industrie will finance the acquisition of Shick through a €20 million credit facility, negotiated as part of the refinancing initiative finalised in January 2016, and Group cash reserves.
Didier Soumet, CEO of the Bretèche Industrie Group, said: “Following the acquisitions of Isernhäger in 2015 and Estève in 2011, this investment further enhances the ability of Bretèche Industrie to supply dough make-up facilities, including pre-dough, dosing and mixing. Moreover, the combination of Shick and the Group will deliver significant commercial synergies through increased geographical exposure.”
Arnaud Thomas, Director at Equistone Partners Europe, added: “This new acquisition will enable Bretèche Industrie to strengthen its bakery business in existing markets as well as establish a presence in the United States, a key market for the industry. The acquisition of this highly respected player in the field of automation and dosage ties in perfectly with the Group's strategic objectives, particularly its pursuit of international growth.”
Joseph Ungashick, CEO of Shick, concluded: “In Bretèche Group, we see a way of securing the future for our employees and the legacy of our company far beyond the ownership of the family.”
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