The business is the UK’s market leader in the production of chocolate fudge cake and has a diverse product range that includes some of the most popular desserts found on pub and restaurant menus across the UK.
Ministry of Cake produces more than 3 million slices of cake every week for its growing customer base that includes some of the leading names in the foodservice, catering, wholesale and coffee shop industries.
In May 2014 LDC invested in the buyout of Ministry of Cake from listed food producer Greencore Group plc.
LDC’s investment strategy was to partner with the high calibre management team and deliver continued organic growth across all channels of the business.
In 2014 Ministry of Cake acquired The Creative Foods site in Torquay, which became an operating subsidiary of Ministry of Cake and increased production capacity by 30%.
In 2016 LDC exited its investment in Ministry of Cake in a sale to French counterpart Mademoiselle Desserts.
During LDC's tenure, revenues increased from £20million to almost £30million, the number of employees grew from 300 to 400 and export sales increased 10% following contract wins in new markets such as Europe, Turkey, Russia and the Middle East.
The deal generates a money multiple of 2.3x.