Irish private equity firm rescues Patisserie Valerie

Irish private equity firm rescues Patisserie Valerie

Causeway Capital Partners has struck a deal for the assets and business of the cafe chain’s parent after an accounting scandal pushed it into insolvency

Patisserie Valerie has been rescued by Irish private equity firm Causeway Capital Partners after an accounting scandal pushed the UK cake baker into insolvency.

Causeway Capital struck a deal for the assets and business of the cafe chain’s parent Patisserie Holdings, according to a statement. Causeway Capital and the bakery chain’s new management, led by chief executive Steve Francis, funded the transaction.

Patisserie Valerie, a well-known fixture on Britain’s shopping streets, attracted interest from...

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