Fri, 07 Sep 2018 | BUSINESS SALE
A Wiltshire-headquartered desserts baker has been acquired by food manufacturing giant Bakkavor in a £12 million deal.
Haydens, a producer of sweet bakery goods for large grocery retailers across the UK, was also a subsidiary of Real Good Food which ran two sites in Devizes and Wiltshire with roughly 500 members of staff to its name.
Founded in 1976, Haydens also operates a distribution network for a major UK retailer.
Its acquisition to Bakkavor, a registered supplier of freshly prepared food, is expected to push growth and capacity for both companies.
Chief executive of Bakkavor, Agust Gudmundsson, said: “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.
“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.”
Haydens has been a part of Real Good Food since its inception in 2003, and has since roped in £31.3 million in revenues in the financial year ending 31 March 2017, which was at a break-even level at its operating profits.
Considering the adjustments to working capital and net debt, the total acquisition consideration has amounted to £12 million.
Hugh Cawley, the chief executive at Real Good Food, said: “Given the sizeable areas of common interest, we believe that Haydens and its staff will prosper better in partnership with Bakkavor.
“This disposal marks an important next step in the restricting and performance improvement of Real Good Food and is in line with our turnaround plan for the group.”
For more news stories about mergers, click here. For all our business for sale listings, click here.
Popular and well-established Italian restaurant is on the market with a huge amount of potential for a new owner to increase revenue building off the current owners’ successes. The current owners have been developing this business since 2015 and have...
2 x Lucrative Cafes & Food Kiosk Recently Departed from a Franchise in Cornwall. Well-Established and Longstanding. Ideal Coastal Location. Recently Renovated. Fantastic Reputation. Excellent Trade Throughout the Year. Offers invited.
LEASEHOLD
Two staff-managed businesses belonging to recognised franchise. Separate or collective purchase available. Based within 2 popular locations. Full support from franchiser. Brilliant reputation. Household name. Offers invited.
LEASEHOLD
|
20
|
|
Sep
|
Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE
Thomas Cook Group is reportedly trying to piece together a l...
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
Sign up to receive our acquisition alert emails to get your FREE guide
|
22
|
|
May
|
Real Good Food completes division sale | DIVISION SALE
Bakery ingredients group Real Good Food has completed its di...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources