Since its first shop was opened in Soho in 1926 by Madame Valerie, the business has added close to 50 stores in England. The Birmingham patisserie group comprises Druckers, Baker & Spice and, best-known of its brands, Patisserie Valerie. Most famous for its home-made gateaux, croissants and generous portions, the firm wants to be seen as providing an “affordable treat”. In 2006 Luke Johnson and his private-equity company Risk Capital Partners backed a management buyout for £6m. Under chief executive Paul May sales grew 68% a year, from an annualised £7.1m in 2007 to £33.4m in 2010.
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