Catalyst munches down on Fabulous Bakin’ Boys deal

DEALMAKERS from Catalyst Corporate Finance’s Birmingham office were involved in the deal which saw muffin maker Fabulous Bakin’ Boys sold out of administration to Netherlands-headquartered food business Daelmans.

No financial details have been disclosed.

Catalyst advised Daelmans on the deal with Birmingham-based Mark Wilson leading.

Accountancy and advisory firm BDO’s business restructuring partners Kim Rayment and Danny Dartnaill were appointed joint administrators over the Fabulous Bakin’ Boys on 11 April 11. They secured the sale to Daelmans.

Some 105 jobs will be preserved as the result of the sale and no redundancies are planned.  

The Dutch firm, which was established in 1909, has operations in the UK and the US, manufactures a range of cakes and pastries for national and international private own labels. The business exports its’ products to more than 30 countries and is the global market leader in stroopwafels (caramel waffles).

Fabulous Bakin’ Boys set up its manufacturing facility in Witney, Oxfordshire, in 1988, originally under the brand name Delicious Donut Co.

In 1997 it rebranded as the Fabulous Bakin’ Boys and expanded the range to include muffins, cakes, flapjacks and cupcakes.

Its products are now stocked in all the major UK supermarkets.

Daelmans’ Rik Daelman said:  “I am delighted to announce this acquisition which will make an excellent addition to our product range.

“This is an exciting time for our company as we continue to expand into new markets and territories and the Fabulous Bakin’ Boys brand will very much be part of that expansion.”

Wilson at Catalyst said: “This is yet another example of an overseas buyer acquiring a UK company. The two businesses are an excellent fit and the experience of Daelmans in working with customers on a global basis will help grow the Fabulous Bakin’ Boys brand.”

The Fabulous Bakin’ Boys went into administration after experiencing a deterioration in its working capital position.

Rayment at BDO said: “We are pleased to have concluded the sale of the Fabulous Bakin’ Boys to Daelmans, preserving over 100 jobs.

“The sale was the best option to secure the future of the business, enabling it to move forward confidently and on a secure financial footing.”

Midlands law firm Freeth Cartwright also advised Daelmans. 

 

 

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