A Bodmin based pasty maker is set to fall into French ownership after it was acquired by the Boncolac group.

Proper Cornish, based in Bodmin produces frozen, savoury pastry products for wholesale and third-party customers, specialising in Cornish pasties produced in its 58,000 sq ft bakery on the outskirts of the town.

The acquisition by Boncolac, a French frozen sweet and savoury basked products manufacturer sees the group enter into the UK market, with the deal backed by Waterland Private Equity Investments.

Mark Lucas, managing director and corporate finance lead for Quantuma, who led the sales process on behalf of Proper Cornish shareholders, said:  "This transaction delivers continuity for Proper Cornish as part of the Boncolac Group, an ambitious Pan European buy-and-build project, and allows the sellers to secure the shareholder value created by Proper Cornish's growth trajectory and investments.

"The acquisition offers Boncolac clear commercial synergies through various cross-selling opportunities and establishes a strong presence in the UK market.

"The Quantuma team is delighted to have advised Chris and Gerald on the sale of Proper Cornish. They have built an absolutely fantastic business, which has found a great home to continue its journey in the Boncolac Group."

Proper Cornish chief executive Chris Pauling said: "Mark, George and the Quantuma team were simply brilliant to work with. They were an exceptional support through every stage of the process and made our job easy.

"They clearly understood our business and the market, which was reflected in the expertly written and designed marketing materials and their ability to generate lots of interest from potential buyers.

"They were on the front foot throughout and were instrumental in finding the best price and home for our business and getting the deal done."