FDBusiness.com

American Hedge Fund Invests £163 Million in Bakkavor Group

 Breaking News
  • Carlsberg Group Remains on Course Carlsberg Group has announced organic and reported net revenue growth of 2% to DKr31.77 billion (€4.27 billion) for the first half of 2017 although group beer volumes fell organically by 3%, chiefly due to a decline in Russia. Operating profit was up 15% organically, with all three regions – Western Europe, Eastern Europe and Asia [...]...
  • UK Food-to-go Market to Reach £23.5 Billion by 2022 The UK’s food-to-go sector is in rude health and will be worth £23.5 billion by 2022, up from £17.4 billion in 2017, according to IGD, as shoppers’ preference for eating on the move shows no signs of slowing down. IGD’s food-to-go research splits the market into five segments, with the organisation’s latest forecasts suggesting particularly strong [...]...
  • Irish Food Companies Encouraged to ‘Think Digital’ and Maximise Online Retail Opportunity Bord Bia has announced a partnership with the Digital Marketing Institute to offer Irish food and drink companies an opportunity to grow and develop their online presence with a view to increasing brand awareness and sales. ‘Think Digital’ is a 6-month digital marketing programme available to all Irish food and drink companies designed specifically to address the [...]...
  • Norwegians Sceptical About Ready-to-eat Food Around 40% of Norwegian consumers agree with the statement that industrially produced food is unhealthy, according to the results of a survey conducted by Kantar TNS on behalf of Orkla. Nine out of 10 think that the food they prepare themselves is better than industrially produced food, while close to half think that the industry [...]...
  • Mandatory CCTV in All Slaughterhouses Under New Animal Welfare Plans CCTV will be mandatory in all slaughterhouses in England under new plans recently announced by Environment Secretary Michael Gove, as he outlined a series of measures to cement the UK’s position as a global leader on animal welfare. The proposals will deliver a manifesto commitment for CCTV to be required in every slaughterhouse in England [...]...
  • £3.7 Billion Worth of Discounts Disappear From UK Supermarket Shelves as Promotions Fall to Lowest Levels in 10 Years The pressure on UK retailers to be more transparent in their pricing has seen the number of trade promotions fall to their lowest levels for 10 years, and in 2017, shoppers will receive £3.7 billion less in promotional savings. This is according to a new report by IRI, the provider of big data and predictive analytics [...]...

American Hedge Fund Invests £163 Million in Bakkavor Group

American Hedge Fund Invests £163 Million in Bakkavor Group
January 27
15:54 2016

Baupost Group, a Boston-based US hedge fund, has invested £163 million in acquiring a stake in Bakkavor Group, the UK’s biggest prepared fresh foods supplier. Bakk AL Holdings, a company owned by brothers Agust and Lydur Gudmundsson, respectively chief executive and chairman of Bakkavor, will continue to control approximately 89% of the outstanding shares group.

There will be no changes to day to day operations of Bakkavor, the management board or other senior management positions.

Agust Gudmundsson comments: “I am delighted to welcome The Baupost Group to Bakkavor. They are globally recognised as highly successful long term investors and are supportive of the company’s continued expansion plans.”

Bakkavor employs over 18,000 people globally and produces over 5,500 products in 18 different categories. In the UK, it is the number one producer by value in 13 of the 16 categories of chilled food it supplies to the market. Products include ready meals, pizzas, salads, desserts, soups and sauces.

Customers include some of the UK’s best known grocery retailers including Tesco, Marks & Spencer, Sainsbury’s, Waitrose, Asda and Morrisons. Bakkavor also has operations in Continental Europe, the US and Asia, supplying fresh prepared food products to both retail and foodservice customers.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements