| UK

Causeway Capital merges Patisserie Valerie and Bakers + Baristas

New 125-site operation will be led by Bakers + Baristas CEO James Fleming with both businesses retaining their brand identities

Patisserie Valerie was rescued from administration by Causeway Capital in 2019 | Photo: Farouq Taj

Causeway Capital has merged its Patisserie Valerie and Bakers + Baristas businesses. The Irish private investment firm said the new group, which will have 125 food-focused cafés across the UK and Ireland, will benefit from shared resources across baking, coffee and customer services, with each firm retaining its brand identity and distinct proposition.

The combined business will be run by Bakers + Baristas CEO James Fleming, with Patisserie Valerie Production Managing Director José Peralta and Retail Managing Director Paolo Peretti supporting a transition period before leaving the business.

“This merger represents a fantastic opportunity to establish a high-quality, branded coffee and patisserie business with a presence throughout the UK and Ireland,” Fleming said.

“I am excited to be leading the team and believe there are significant opportunities to leverage shared resources across the business to deliver best-in-class customer experience for both brands in-store and online,” he added.

Causeway Capital first invested in Bakers + Baristas in 2015 and has led its growth to 65 stores in the UK and Ireland. In February 2019 it rescued Patisserie Valerie out of administration after the veteran bakery chain was rocked by a £40m accounting scandal, which resulted in the loss of some 900 jobs. Initially taking on 96 of Patisserie Valerie’s 121-store UK portfolio, Causeway Capital relinquished 14 sites following a financial review of each store later in the year.


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