Patisserie Valerie is the leading branded patisserie and bakery operator in the UK .

Headquartered in Birmingham, UK, the business originated from a single store in Soho, London in 1926 and has since grown into a national multichannel bakery brand. The business specialises in a distinctive range of handmade French cakes and savoury food offerings crafted at production facilities across the UK. The business’ loyal customer base can select from a range of luxury baked goods and are able to design customised cakes for occasions such as weddings, birthdays along with other celebrations.

Covid-19 provided Patisserie Valerie the opportunity to accelerate the launch of its online direct-to-consumer e-commerce service, providing cakes and baked goods via delivery partner DPD throughout the UK via next day delivery or collection the next day in store.

Following the successful launch of the online offering, the business works with the Sainsburys supermarket group in the UK on a wholesale partnership model where Patisserie Valerie branded luxury baked goods are available in supermarkets throughout the UK.

In 2024, the business broadened its B2B offering by expanding its wholesale client base and launching a new franchise partner programme.

Patisserie Valerie is led by James Fleming (Group CEO).

Investment highlights

Causeway Capital financed the acquisition of the business out of administration following a turbulent period listed on London’s AIM for smaller companies. Given the uncertain future facing many pillars of the UK high street, the opportunity to protect jobs and secure the future of a much-loved British business was one that Causeway and management were enthusiastic about pursuing. 

Since the original acquisition, Causeway Capital has helped to drive a significant turnaround in the business focusing on offering consumers its luxury baked products and enabling the business to return to sustainable growth. This included enhancing the team, achieving production and supply chain efficiency savings, reducing product wastage and operational improvements through a facility consolidation and logistics outsourcing programme.

In addition to its physical patisseries, Patisserie Valerie has diversified the business through its online direct-to-consumer e-commerce service and its business to business offering.

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