Fazer is a Finnish based group of food companies providing both products and services. Fazer has a strategy of expanding its business through acquisitions of quality brand names.
Gateau is the leading premium bakery chain in Sweden. They have a strong and well-known brand and they maintain an extremely high quality in their assortment.
Gateau was intended to be sold through a structured auction process. HDR Partners initiated a pre-emptive process prior to the structured auction. In conjunction with Gateau, HDR Partners choosed two of the parties that had previously showed interest, the price was communicated as well as if the price expectations was not met, the Company would initiate a broad auction process at a later stage.