LE DUFF GROUP ANNOUNCES THE ACQUISITION OF LECOQ CUISINE CORPORATION

Reaffirms its International Growth Ambitions; Pursues its Global Development Strategy in North America

Two Companies with Shared Values

RENNES, France, July 21, 2022 /PRNewswire/ - Groupe Le Duff ("Le Duff" or the "Group") and its subsidiary Bridor, today announce the acquisition of Lecoq Cuisine Corporation ("Lecoq Cuisine"), a leader in North America in the production of specialty Viennese and French-style pastries. This new acquisition emphasizes the focus of Le Duff on accelerating the growth of Bridor, a leader in the market for premium frozen bakery and pastries, present in more than 100 countries and on 5 continents.

This new investment in the United States aims to support the global growth of Bridor and strengthens its current production capacities in Canada and the U.S. The Group has previously invested more than €200 million in North American production sites.

Founded in 1991 in New York by the acclaimed pastry chef Eric Lecoq, Lecoq Cuisine manufactures and markets more than 150 varieties of premium products, in particular viennoiseries (its famed Croissants - sweet and savory; Danishes - with a wide range of cream cheese and fruits; Cinnamon rolls; renowned Puff Pastries; and Brioches).

Present mainly in the U.S., Lecoq Cuisine also exports to Canada and the Caribbean. The products are manufactured at the company's production site in Bridgeport, Connecticut. The company employs 250 collaborators and its revenue stands at $60 million (2022).

Committed to quality, Lecoq Cuisine uses only traditional French recipes and places great emphasis on proprietary manufacturing methods to offer the best products to its customers.

Such quest for excellence is shared by Bridor, which is continually innovating to develop healthy and natural products made with respect for French baking customs, and which collaborates with renowned chefs and craftsmen such as those with the Meilleurs Ouvriers de France award distinction.

Louis Le Duff, Founder & Chairman of Le Duff Group and Bridor, stated "Having followed Eric Lecoq's exemplary career with great interest for several years, I am especially proud of this acquisition. The Group's international history is closely linked to America, which is my second home".

Philippe Morin, CEO of Bridor, emphasizes "We could not be more pleased to be able to incorporate Lecoq Cuisine into the Bridor and Le Duff family.  Eric Lecoq's unparalleled commitment to excellence, coupled with the individual passion and craft that goes into every product, make us natural partners for each other."

Eric Lecoq, founder & CEO of Lecoq Cuisine, added "Our intense focus on excellence and innovation is matched only by Le Duff's reputation and track record for producing high quality products and exceptional customer service throughout its almost 50-year history. I am honored to join with Le Duff's founder, the pioneer Louis Le Duff, and his team in exploring our next phase of growth. Together, we will be a powerhouse in every market in which we will operate."

Lisbeth R. Barron and the team at Barron International Group, LLC, acted as the exclusive financial advisor to Lecoq Cuisine on the transaction. 

ABOUT GROUPE LE DUFF

World leader in the bakery-pastry, café bakery and pizza-pasta sector, LE DUFF Group is present in more than 100 countries and on 5 continents. The Groupe LE DUFF was founded in 1976 by Louis Le Duff. The Group has owed its success to its restaurant chains (Brioche Dorée, Del Arte, Fournil de Pierre, La Madeleine [United States], Kamps [Germany], etc.), as well as to Bridor, which manufactures premium quality bakery and pastry products for some of the world's most prestigious restaurant and hotel chains; and to Frial and Cité Gourmande, which manufacture vegetables and regional-style ready meals.

LE DUFF Group works with top chefs in bakery and catering, as well as institutions and nutrition experts, to develop healthy recipes (gluten-free, with fibre, organic ranges etc.). LE DUFF Group has built its success on giving priority to high-quality, healthy dishes.

Each year, the Group LE DUFF opens new establishments and recruits many talented people in France and around the world. Its turnover will stand at 2.50 billion euros in 2022.

ABOUT LECOQ CUISINE CORPORATION

Founded in 1991 by Eric Lecoq in Port Chester, New York, Lecoq Cuisine has grown to be the preeminent manufacturer of fine French pastries in the United States. Using only the finest quality ingredients and combining the most innovative manufacturing methods with the passion of a skilled pastry chef, the company is now the dominant player for excellence in the frozen pastry sector, while maintaining cost-effective offerings.

Eric Lecoq studied the art of Pastry and Baking at the acclaimed Académie de Boulangerie Patisserie de Caen; then perfected his craft in some of the most prestigious establishments in the world such as Dalloyau in Paris and Le Bernardin in New York.

The company operates with more than 250 employees out of its Bridgeport, Connecticut manufacturing facility.

SOURCE Bridor