Wednesday April 8, 2020

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

14th February, 2019
Patisserie Valerie attracted interest from Mike Ashley. Pic: Getty

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.

The cafe group’s collapse in late January after more...

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