Something went wrong with the connection!

FDBusiness.com

McCambridge Group Sells Private Label Cake Business

 Breaking News

McCambridge Group Sells Private Label Cake Business

McCambridge Group Sells Private Label Cake Business
December 06
11:45 2012
Spread the love

NBGI Private Equity, a leading private equity investor in the UK lower mid-market, has backed a £23.5 million management buy-in of the cake division of McCambridge Group, one of the largest producers of private label cakes for the UK food industry. The purchase price is undisclosed.

The cake business, which operates from four primary manufacturing locations in the UK, and a further facility in Poland, will be renamed post completion, and aims to act as a platform to grow into the pre-eminent supplier of private label and branded cakes to the UK retail and food service sectors. Existing customers include the UK’s major supermarket chains.

NBGIPE is backing Andrew Johnson as McCambridge’s Cake Division’s new cief eecutive. He has extensive experience in successfully growing businesses supplying private label foodstuffs into supermarket multiples in the UK. In particular, Andrew Johnson was chief executive in a successful buy-in into Elisabeth the Chef in 2004, a private equity-backed supplier of chilled private label cakes to UKs upermarkets, growing sales from £45 million to £70 million during his three-year tenure.

Richard Babington, investor director of NBGIPE who directly sourced and led the transaction, comments: “We are delighted to be backing Andrew in his second MBI into the food sector after a long search, working closely with him, to identify the right buy-in opportunity for his skills. He has a highly successful track record in growing private label businesses supplying the UK supermarket multiples, which I am confident will be extended with this investment.

Richard Babington adds: “The buyout of McCambridge’s Cake Division is consistent with the acquisition strategy underpinning NBGIPE’s four other previous MBIs into the UK food sector, namely the purchase of a cash-generative, asset-heavy business with scope to grow and at a competitive purchase multiple.”

Richard Babington, who along with Rupert Brown formed the acquisition team representing NBGIPE, will join the board of the business along with Andrew Johnson.


Warning: count(): Parameter must be an array or an object that implements Countable in /home/fdbusiness/public_html/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

    Subscribe Here



    Advertisements