€450m revenue for bakery business with headquarters in Wirral
A bakery business which launched last year after splitting from its owner has reported revenues of €450m in its first year as a standalone business.
Headquartered in Wirral, Baker & Baker struck out on its own in April 2021 following its official separation from owner CSM Bakery Solutions.
Baker & Baker operates across 12 sites in seven countries, employing more than 2,500 workers with a focus on sweet bakery products, including doughnuts, cookies and speciality muffins.
The business has reported turnover of €450m and growth of 14% during the first 12 months.
A number of ‘significant product launches’ has strengthened the company’s growth; including its ‘Boomies’ Berliner donut, and the lower fat and calorie Simpsons donut range.
Record growth in Baker & Baker’s licensing portfolio also delivered a significant proportion of its 2021/2022 financial performance.
Via its exclusive bakery partnership with Mondelez, Baker & Baker manufactures and sells a broad range of donuts, muffins, cookies and brownies under the iconic Oreo, Cadbury, Milka and Daim brand names.
The Mondelez licensing portfolio delivered record retail sales in excess of €100m in 2021 thanks to continued consumer demand for indulgent bakery products and is projected to deliver further growth in 2022.
In 2021, Baker & Baker opened an office in Dubai and appointed a senior sales team to exploit new customer opportunities throughout the Middle East and North Africa.
Later this year, the company is also preparing to open its first office in Poland, to serve customers both in-country and throughout other Eastern European markets.
It has also continued to invest in its factories over the last year, most notably with the multi-million euro installation of bulk, liquid chocolate handling in Bradford and Delmenhorst in Germany, and product handling automation technology for bread at St Tirso in Portugal and cookie lines in Bradford.
John Lindsay, CEO of Baker & Baker, said: “Our first year as Baker & Baker has been an incredible journey.
“Successfully completing a complex business separation during normal market conditions is challenging, but considering raw material inflation and the impact of COVID-19, we have demonstrated considerable resilience and agility to deliver an impressive financial performance.
“The expertise, commitment and hard work demonstrated by our colleagues during a turbulent period has also been critical in driving this growth.
“Our priorities for the forthcoming 12 months are to build on these solid foundations, with further investment in NPD and product extensions, growing our footprint in emerging markets and maximising the potential of our licensing range with Mondelez.”