Stephen French bakery group Cérélia sold Jus-Rol to private equity firm Rinkelberg Capital, marking the end of a three-year legal battle with the UK’s Competition & Markets Authority (CMA).

Rinkelberg, the London-based investment office of the TomTom founders, acquired the ready-to-bake pastry brand after Cérélia’s repeated attempts to overturn the CMA’s decision failed. Alongside Jus-Rol, Rinkelberg also acquired PA Ross Food Group, a UK sales and marketing company specialising in impulse, bakery, and frozen products.

The CMA originally ordered Cérélia to divest Jus-Rol after ruling in 2023 that the acquisition reduced competition in the UK’s £100m ready-to-bake dough category. Cérélia challenged the decision in court but lost multiple appeals, culminating in the Supreme Court refusing its case in August 2024. The legal battle cost the company nearly £6m.

Under the new ownership, PA Ross will manage the Jus-Rol brand. A new entity, Brioche UK Ltd, was set up for the acquisition, with PA Ross founder Tim Clifford and sales director Lucy Filby named as directors.

Cérélia UK managing director Jan Boers welcomed the deal, stating that Rinkelberg shares its vision for Jus-Rol. The brand will continue to be manufactured at Cérélia’s Corby facility in the UK.

Rinkelberg expressed enthusiasm for the acquisition, highlighting the brand’s strong growth potential and commitment to working with retail and manufacturing partners.

The CMA confirmed the closure of its merger investigation following the sale.