Bakkavor takes £12m bite out of bakery business
Bakkavor Group, the provider of fresh prepared food which has its bread division in the Humber, has bought Haydens Bakery from Real Good Food for £12m.
Established in 1976, Haydens is a manufacturer of sweet bakery products for the major UK grocery retailers. The business operates from two sites in Devizes, Wiltshire, and has around 480 employees.
In the financial year ended 31 March 2017, Haydens generated £31.3m of revenues and was break-even at the operating profit level.
Agust Gudmundsson, chief executive officer of Bakkavor, said: “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.”
Lawyers from Leeds-based Walker Morris’ Food & Drink Team advised Real Good Food on the sale.
Hugh Cawley, Chief Executive at Real Good Food, said: “This disposal marks an important next step in the restructuring and performance improvement of Real Good Food and is line with our turnaround plan for the Group. Given the sizeable areas of common interest, we believe that Haydens and its staff will prosper better in partnership with Bakkavor.”
Real Good Food focuses on three main markets including: cake decoration (Renshaw and Rainbox Dust Colours), food ingredients (R W Scott and Brighter Foods) and premium bakery (Chantilly Patisserie). Haydens Bakery has been part of Real Good Food since the Group’s inception in 2003 and produces premium tarts, pies and crumbles, Danish pastries, sweet buns, yum yums and doughnuts and sells principally to major retail customers.
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