FDBusiness.com

Bakkavor Announces £12 Million Strategic Acquisition in UK Desserts

 Breaking News
  • First Milk Acquires Fonterra’s 51% Stake in Fast Forward Joint Venture First Milk, a wholly British farmer-owned dairy co-operative, has agreed to purchase Fonterra’s 51% share of its Fast Forward joint venture, established in 2011, and has entered a new strategic partnership with Havero Hoogwegt for global WPC80 sales and distribution. From July 2019, First Milk will be the sole owner of the whey protein concentrate [...]...
  • Leaders in Luxury Packaging Join London’s Most Exclusive Packaging Event Luxury Packaging London 2019 will celebrate its 10th anniversary when it returns to Olympia on 11 & 12 September, hosted alongside Packaging Innovations. As the UK’s leading luxury packaging event, it will bring together over 180 exhibitors and a dedicated audience of senior buyers, all looking to source the latest in luxury packaging solutions. With consumer concerns [...]...
  • The Lakes Distillery Announces £3.75 Million Investment The Lakes Distillery, based in Cumbria, England, has secured a £3.75 million investment from a group of investors led by Gresham House Asset Management, a specialist equity investment and asset management company. Joining existing investors and high-net-worth individuals, who recently made an additional £1.6 million investment, this is a milestone for the distillery and Gresham [...]...
  • Kerry Group Inaugurates New Production Facility in India Kerry Group has officially opened its new €20 million production facility in Tumkur, India. The new, state-of-the-art 40,585 square metre facility, located 120 km from Bangalore, will serve Kerry Taste & Nutrition’s global and regional customers in the South West Asia region, with Kerry Taste and Beverage systems for the fast-growing retail and foodservice markets. This is Kerry Group’s [...]...
  • Lamb Weston to Acquire Australian Frozen Potato Processor Lamb Weston has agreed to acquire Ready Meals, a frozen potato processor in Australia. Terms were not disclosed. Ready Meals sells frozen potato products under the Harvest Choice brand and operates frozen potato processing and storage facilities in Hallam, Victoria. Lamb Weston, along with its joint venture partners, is a leading supplier of frozen potato, sweet [...]...

Bakkavor Announces £12 Million Strategic Acquisition in UK Desserts

Bakkavor Announces £12 Million Strategic Acquisition in UK Desserts
September 10
12:30 2018

Bakkavor Group, the leading provider of fresh prepared food, has acquired Haydens Bakery from Real Good Food for a consideration of £12 million. Established in 1976, Haydens is a leading manufacturer of sweet bakery products for the major UK grocery retailers and provides a distribution operation for one of the UK’s leading retailers. The business operates from two sites in Devizes, Wiltshire, and has about 480 employees.

Capital investment of £15 million over the last 18 months has now transformed the bakery operations, adding significant capacity, expanding the existing footprint and upgrading equipment and infrastructure.

Agust Gudmundsson, chief executive of Bakkavor.

For Bakkavor, the acquisition of Haydens will increase the breadth and depth of its desserts range, extending the offering in in-store bakery, while also supports growth in Bakkavor’s Desserts business, which, combined with the ongoing major expansion of its facility in Newark, will provide increased and high quality capacity, as well as state-of-the-art automation. Bakkavor expects to realise meaningful operational synergies by incorporating Haydens into its existing business.

In the financial year ended 31 March 2017, Haydens generated £31.3 million of revenues and was break-even at the operating profit level. The transaction excludes Chantilly, a Devon based patisserie facility which produces hand-assembled frozen desserts.

Agust Gudmundsson, chief executive of Bakkavor, comments: “We are pleased to welcome Haydens to the Bakkavor Group. It is a business which shares Bakkavor’s passion for providing outstanding service, quality and value to its customers and has a reputation for supplying some of the best tasting sweet treats to the UK’s leading retailers. This acquisition will grow both our capacity and product offering in the Desserts category, and we are delighted to be welcoming Haydens’ management and the wider team to our business.”

Real Good Food will use the cash funds received to reduce the group’s indebtedness.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 25, 2019BevExpo 2019
  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements