KUALA LUMPUR (Aug 2): Cyrilla Ltd, an affiliate of private equity firm Creador III LP, has acquired a stake in Bake With Yen Group (BWY) for US$13 million (RM57 million).

Creador said the investment in BWY, a 15-outlet baking ingredient retail chain, is its 10th in Malaysia.

“Creador is constantly seeking investments in high growth businesses and BWY is indeed an exceptional business with an established brand name, a wide range of products and sizeable operations in both East and West Malaysia,” Creador’s founder and chief executive officer, Brahmal Vasudevan, said.
 
“Despite the impressive growth potential, the baking ingredients industry is still highly fragmented, often serviced by mom-and-pop shops or small chains focusing on individual states in Malaysia,” Brahmal said in a statement.
 
BWY was founded in 1987 by Yen Khong Moi. Brahmal said with the second generation of the founding family taking over the helm, the chain is well positioned for the next phase of growth.
 
“We are delighted to have this opportunity to partner with them and look forward to combining our management expertise and their industry know-how to take the business to greater heights,” Brahmal added.
 
At present, BWY boasts a successful range of customers, including casual retailers, home and professional bakers and commercial businesses such as leading hotels, restaurants, cafes, and bakery chains.  
 
“We believe that with a common vision and their strong retail expertise, Creador can help drive our business to the next level,” Yen said.
 
“Working together and with the integration of our business in both Peninsular Malaysia and East Malaysia, this would allow the new company to have better economies of scale to grow its market share and thus offer tremendous value, not only to our loyal customers, but also new patrons to our stores,” she added.