The investment supports Relais Desserts’ expansion plans, with Cerea Partners aiming to scale the company’s boutique network across western France. The chocolatier, which generates approximately €15m in annual revenue, operates six boutiques in the Nantes region and a seventh in Japan.

The transaction includes debt financing from CIC Ouest and Caisse Régionale Crédit Mutuel Loire-Atlantique Centre Ouest, alongside participation from Caisse Régionale de Crédit Agricole Mutuel Atlantique Vendée and Caisse d’Epargne et de Prévoyance Bretagne Pays de Loire.

Relais Desserts is the seventh investment from Cerea Capital III, which completed its first close in 2022. The fund focuses on high-growth food industry businesses, with portfolio companies including automation specialist AB Process Ingénierie and bakery chain Sophie Lebreuilly.

Cerea Partners was advised by Lamartine Conseil on M&A, KPMG France on tax, Kea & Partners for due diligence, Finaxeed on M&A, and Oderis Consulting for ESG due diligence.

The deal underscores continued private equity interest in the premium food sector, as firms seek to scale artisanal brands with strong growth potential.

Source: Real Deals