Paris, June 6,2019–Eurazeo capital is pleased to announce the acquisition of a 51% stake in Ducasse Education, a major player in culinary arts and pastry training, by the world-renowned hospitality management education group, Sommet Education.
Since its creation in 1999, Ducasse Education has developed and delivered un rivalled culinary and pastry expertise through a wide array of initial and professional development training programs, as well as courses for career changers. With three schools in France and international partnerships(the Philippines and soon the United Arab Emirates), the group boasts a multitude of innovative, methodological and technical expertise. Ducasse Education welcomes over 800 students and 3,000 apprentices at its three French campuses.
Sommet Education, a major higher education player, was built around Glion Institute of Higher Education and Les Roches Global Hospitality Education, two hospitality management institutions acquired by Eurazeo in 2016. With 5,000 students from over 100 countries, the group cultivates the global hospitality leaders of tomorrow. Located in Switzerland, Sommet Education is truly unique, as it is the only hospitality management group with two institutions ranked in the top four hospitality schools worldwide and the top three by employer reputation(QS World University Rankings by Subject 2019).
In line with its strategy to accompany the long-term development of its investments, Eurazeo Capital deploys all the financial, technical and human resources at its disposal to accelerate Sommet Education’s development and transformation. Since 2016, Eurazeo has notably helped to strengthen and internationalize the management team,while enabling the group to invest substantially in its campuses and tools to achieve its goal: create a global education leader in hospitality, gastronomy and services.
The acquisition of Ducasse Education demonstrates Sommet Education’s ability to combine premium educational brands. It will enable the group to propose more comprehensive and balanced training paths combining both long and short formats, and to expandfurther into professional development. Ducasse Education will benefit from Sommet Education’s structures, notably for the recruitment of new students, as well as Eurazeo’s expertise in international development, CSR and digitalization.
Marc Frappier,Head of Eurazeo Capital said: “With this investment decision and Eurazeo Capital’s support, Sommet Education will continue to develop, expanding its catalogue of training courses and becominga major player in hospitality and gastronomy education.”Benoit-Etienne Domenget, Chairman of Sommet Education, added: “This acquisition fits perfectly with our desire to strengthen our presence in the culinary arts, a sector which, we have noted, is of significant interest to the general public. We’re looking forward to working closely with the Ducasse Education teams and pooling our knowhow and expertise.”
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Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable private equity, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
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About Sommet Education
Known for excellence in cultivating the hospitality leaders of tomorrow, Sommet Education encompasses a distinguished group of institutions united by a fundamental belief in the importance of academic rigor, skills-based learning and a dynamic multicultural outlook. Sommet Education institutions Glion and Les Roches serve students from more than 100 countries, preparing them to be immediately effective in their professions –wherever in the world these may be –while delivering exceptional consumer experiences.
Sommet Education is part of Eurazeo, one of the leading listed investment companies in Europe.
For more information,visitwww.sommet-education.com.