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.
The business for sale is a thriving Caribbean restaurant, which has been specialising in delicious and filling Caribbean cuisine since 2016. Serving a wide range of dishes including fried plantain, dumplings, jerk chicken and curry goat, the restau...
LEASEHOLD
The business has built up an excellent reputation within the area and further afield, for the very high quality of their fayre, which has resulted in a very loyal client base, with a high volume of footfall and passing trade along with regular online...
LEASEHOLD
This well-known and unique restaurant has been successfully trading for 15 years. The business has built an enviable reputation for offering a truly authentic Spanish/Mediterranean experience. The premises encompass a relaxed atmosphere with staff of...
LEASEHOLD
|
08
|
|
Apr
|
Insurance broker bought out of administration | BUSINESS SALE
Flintshire-based insurance broker Staveley Head has been acq...
|
07
|
|
Apr
|
Treasury plan to save medium-sized businesses by taking emergency stakes | BUSINESS NEWS
The Treasury is understood to be considering user taxpayer m...
|
07
|
|
Apr
|
Clarks makes store closures and explores financing opportunities | COMMERCIAL PROPERTY
Footwear retailer Clarks has confirmed that it will close a ...
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