FDBusiness.com

American Hedge Fund Invests £163 Million in Bakkavor Group

 Breaking News
  • UK Campylobacter Levels Remain Steady The top nine retailers across the UK have now published their latest testing results on campylobacter contamination in UK-produced fresh whole chickens (covering samples tested from January to March 2018). The latest figures show that on average, across the major retailers, 3.8% of chickens tested positive for the highest level of contamination; these are the chickens [...]...
  • FrieslandCampina Increases Outdoor Grazing Cows in Dairy Farms This year an extra 303 member dairy farms of FrieslandCampina, the Netherlands-based international co-operative, have switched to meadow grazing. The percentage of outdoor grazers within FrieslandCampina is expected to grow from 79.4 percent to about 81 percent in 2018. This brings the target for the year 2020 within reach, to have 81.2 percent of dairy [...]...
  • Firmenich Launches Natural and Clean Label Platform Firmenich has launched its Natural and Clean Label platform to create great tasting, natural and traceable food and beverage experiences. Combining its mastery of taste and naturals, with its world-class science and consumer understanding, Firmenich is focused on creating the most authentic flavors. Committed to full traceability, Firmenich is going far beyond today’s labelling requirements [...]...
  • Rocla’s Automation Solution Increases Safety and Saves Money at Valio’s Cheese Production Plant Valio is the leading dairy product manufacturer in Finland, and the Haapavesi plant processes and packs one of Scandinavia’s favourite cheese brands Oltermanni. Inside this factory there are two automated guided vehicles by Rocla working 24/7. Rocla has been developing and manufacturing AGVs for 35 years. These AGVs have been customised with the Oltermanni branding [...]...
  • Record High Number of New UK-based Wine Producers Opening The number of new wine producers opening within the UK in a year hit a record high last year with 80 new wine producers starting up – a rise of 25% from 64 in 2016, and more than double the 36 that opened five years ago, according to research by chartered accountants UHY Hacker Young [...]...

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

  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements