NW Businessmen buy up bakeries
THE former boss of Holland’s Pies has bought five bakery businesses across the country with a combined turnover of £17m.
Graham March was managing director of Holland’s Pies for 20 years until 2005 and most recently held the same position at Northwich-based bakers Frank Roberts & Sons.
He and business partner David Fearnley-Brown, a food consultant for companies such as Northern Foods, have set up D&G Food Group to buy the struggling southern division of bakery business McCambridge Group for an undisclosed sum.
The five bakery businesses in the division are Aldreds the Bakers, WR & SW Hussey, Queen of Hearts (UK), Tredinnick Fine Foods and West of England Bakeries. Operations stretch Derbyshire to the South West and between them the businesses employ 300 staff and have a combined turnover of around £17m.
But the division was loss-making and D&G has been forced to close one Berkshire bakery in the new business, with the loss of around 40 jobs.
Mr March said: “We are really excited about this turnaround opportunity and are confident we can return the businesses to profitability within the next three years with the right direction, level of management attention and the support of our funders, Venture Finance.”
The Manchester offices of law firm DWF and DTE Corporate Finance advised Limited on the acquisitions.
Jon Close, corporate partner with DWF said: “The deal is really good news for all involved, particularly the employees, suppliers and customers of the five businesses. It was a great team effort on all sides of the deal which needed to happen in a tight timescale. With Graham and David’s complementary sales and operational experience they make a very effective team.”
