Wed, 29 Nov 2017 | BUSINESS SALE
The owner of artisan bakery chain Patisserie Valerie is poised to make a £150 million bid for the company that owns another upmarket baked goods chain.
The Times reports that last month the board of Bread Holdings - which runs 38 Gail’s bakeries, most of which are located in London, as well as wholesaler Bread Factory – had called on financial services firm KPMG to advise on strategic next steps for the firm.
Luke Johnson, who owns 60 per cent of Bread Holdings and is a 39 per cent shareholder in Patisserie Valerie, confirmed that Patisserie Holdings was keen to use a “strong balance sheet” to make an acquisition, one of the reasons for its public float in 2014.
Any deal between the two would bring together two companies in which Johnson is chairman. As a result, should any negotiations arise between the firms it is understood that he would not be involved in order to avoid any conflicts of interest.
When asked whether Patisserie Holdings would bid for Bread Holdings, Johnson replied: “If it were to become available at an attractive price, we’d certainly be interested in looking at it.”
The Patisserie Valerie owner has enjoyed a prosperous time in the past year, with profits growing by 17.1 per cent generating cash reserves in excess of £21.5 million. The high street shops have contributing £84.4 million worth of sales in the year up to September 30, allowing the firm to open 20 new Patisserie Valerie stores while closing only five.
Patisserie Holdings also opened its first new store under the Philpotts banner, which serves sandwiches and salads, in Manchester’s Spinningfields shopping centre.
Speaking about his company’s recent successes, Johnson said it had avoided some of the pressures facing the rest of the casual dining sector because it offered an “affordable treat, is not London-centric, keeps tight control of costs and is disciplined on rents”.
This UK-based company is a leader in specialist cleaning services, boasting top-tier equipment and an impressive client retention rate, while accredited by several key industry bodies. With an experienced operations manager capable of independently d...
This business, known for its expertise in bespoke modular and containerised data centres, stands out with its impartial product advice and commitment to quality, as evidenced by its ISO 45001 and ISO 9001 certifications. With 70 active clients and a...
his well-established company offers unique and premium behavioural training solutions and fully managed feedback services, making it a leader in the learning and development sector. With a strong client base and a reputation for facilitating high lev...
09
|
Jul
|
Equipment hire firm divests welfare van fleet | DIVISION SALE
Newcastle-based equipment hire firm Nixon Hire has divested ...
09
|
Jul
|
Former care home to reopen following acquisition | COMMERCIAL PROPERTY
A former care home in Nottingham is set to reopen following ...
09
|
Jul
|
Financial advice consolidator Finli Group completes six more acquisitions | BUSINESS SALE
National financial advice firm Finli Group has continued its...
09
|
Jul
|
Engineering group divests subsidiaries in strategic move | BUSINESS SALE
The Calder Group, a pan-European engineering group headquart...
09
|
Jul
|
Financial advice consolidator Finli Group completes six more acquisitions | BUSINESS SALE
National financial advice firm Finli Group has continued its...
09
|
Jul
|
Former care home to reopen following acquisition | COMMERCIAL PROPERTY
A former care home in Nottingham is set to reopen following ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.