Thu, 12 Sep 2024 | BUSINESS SALE
Furniss of Cornwall Limited, a biscuit maker based in Cornwall, has been acquired by Prima Bakeries Group for an undisclosed sun. The group’s Managing Director described Furniss of Cornwall as an “iconic Cornish food brand” and said that there were numerous synergies between the businesses.
Founded in 1886, Furniss of Cornwall is the only UK company licensed to make traditional ginger biscuit Original Cornish Fairings. The company’s other luxury biscuit ranges include gingerbread, oat biscuits, cheddar biscuits and dipped cookies.
Prima Bakeries Group Managing Director Mark Norton said: “This is an incredibly exciting time for us, as we bring another iconic Cornish food brand under our wing. There is a lot of synergy between the businesses, as well as complementary product ranges, so our responsibility is to now build on the brilliant work that the previous owners and directors have done, to further grow the business.”
Norton continued: “Looking forward, we will be investing in the production facilities on-site in Redruth, to support Furniss to reach its full potential.”
The deal follows Prima’s move to employee ownership earlier this year, which Norton said was part of the group’s long-term succession plan. Following the acquisition, all Furniss employees will join the group’s Employee Ownership Trust (EOT).
In the wake of the deal, Prima said that it expects to reach £15 million in turnover by the end of the year. The group also plans to open a new 20,000 sq ft production facility in St Columb later this year, which is set to double the group’s capacity for producing pasties.
Norton added: “I’m very proud of what we’re doing within the group. The combination of the purchase of Furniss and having a record-breaking year is a moment that I want to dedicate to our hard-working team, who have been integral to our success.”
Find out more about growing levels of M&A activity in the UK's food and beverage sector
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