FDBusiness.com

Finsbury Food Group Acquires Gluten Free Bakery

 Breaking News
  • Agrial Continues Strategic Expansion With German Dairy Acquisition Agrial, the French farming and food co-operative, is continuing its quest to create value for its dairy farmer members by acquiring German company Rotkappchen Peter Julich Group, a specialist in cow’s and goat’s milk cheeses. The acquisition of Rotkappchen Peter Julich Group, which owns three famous brands in Germany, furthers the growth strategy of Eurial, [...]...
  • €191 Million to Promote EU Agri-food Products at Home and Abroad The European Commission has adopted the 2019 promotion policy work programme, with €191.6million to be made available for programmes selected for EU co-financing – an increase of €12.5 million compared with 2018. €89 million will be allocated to campaigns in high growth countries such as Canada, China, Colombia, Japan, Korea, Mexico, and the United States. Some [...]...
  • Müller Removes Sugar With New Yogurt Culture Müller Corner, one of Britain’s best loved yogurt ranges, is set to reduce sugar by up to 9% and gain a creamier texture, thanks to the discovery of a new yogurt culture. Following a rigorous research and development process which involved access to more than 13,000 strains, Müller discovered that the combination of two specific yogurt [...]...
  • Mintel Launches Purchase Intelligence in the UK Mintel, the world’s leading market intelligence agency, has launched Mintel Purchase Intelligence, the newest innovation in product comparison technology, providing rapid, reliable consumer opinion on every reported new food and drink product in the UK*. Every day, Mintel benchmarks consumer reactions to new product launches so manufacturers, companies and brands can immediately understand and analyse what is [...]...
  • Discovery, Plant-Based and Alternatives Lead the Top Ten Trends For 2019 Targeting increasingly adventurous consumers, set on new discoveries and experiences, will be key to developments in the food and beverage industry in 2019. The connected world has led consumers of all ages to become more knowledgeable of other cultures, contributing to 35 percent growth of “discovery” claims, when comparing 2017 and 2016 new product launch [...]...

Finsbury Food Group Acquires Gluten Free Bakery

Finsbury Food Group Acquires Gluten Free Bakery
September 05
08:49 2018

Finsbury Food Group, a leading UK speciality bakery manufacturer of cake, bread and morning goods for both the retail and ‘out of home eating’ foodservice channels, has acquired Ultrapharm, a ‘free from’ bakery manufacturer, for £17 million. The acquisition of Ultrapharm supports the Finsbury Food Group’s ongoing strategy to further diversify its product capability into high growth areas.

Established in 1993, Ultrapharm employs more than 240 staff across manufacturing sites in the UK and Poland. As a specialist ‘free from’ bakery, the business has an extensive product range including bread, buns, rolls and other morning goods. Ultrapharm has a diverse customer base with long term blue-chip customers, including Finsbury itself, where it supplies free from products to Lightbody Europe. The opportunity to invest in the acquired sites and to expand the group’s existing facilities to manufacture free from products, a category of which the group has previous expertise, provides significant upside sales potential to Finsbury in a growing segment.

As demand for free from products has expanded from dietary requirement to a lifestyle choice, the UK free from bread and morning goods market has grown 92% over the last four years with the outlook set for further growth over the next five years in line with the continued growth forecast for the wider UK free from grocery market . In EMEA, the gluten free bakery market is forecast to grow at a CAGR of 10.6% over the period 2017-21.

For the year ended 31 December 2017, Ultrapharm generated EBITDA of £1.6 million and profit before tax of £0.8 million which have continued to grow since year end. Revenue generated was £19.5 million, up 35% from £14.5 million for the comparative period in 2016. As at period end, gross assets were £10.8 million. The acquisition will be earnings accretive immediately post completion.

John Duffy, chief executive of Finsbury Food Group, comments: “We are delighted to have secured such a valuable strategic acquisition, one that presents the group with a significant opportunity to access an exciting and high growth marketplace. Ultrapharm has a robust market position both in the UK and Europe, extensive technical ability and strong relationships across a high quality and diverse customer base. This provides Finsbury with the opportunity to build upon both businesses existing retail relationships, as well as unlocking further commercial opportunities.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 21, 2018expoSE European Asparagus and Strawberry Fair
  • November 27, 2018Health Ingredients Europe
  • November 28, 2018FOOD & LIFE
  • December 3, 2018P&P 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements