Bakkavor Group has acquired UK-based desserts company Haydens Bakery from Real Good Food for £12 million.
Haydens manufactures a wide range of sweet bakery products for major UK grocery retailers and provides a distribution operation for an unspecified major UK retailer.
The company operates two sites in Devises, Wiltshire, employing nearly 500 staff, and recently invested approximately £15 million to expand the production capacity of its range of bakery items.
In the financial year ending 31 March 2017, Haydens reported revenues of £31.3 million, and Bakkavor says the acquisition will significantly expand its presence in the UK desserts segment.
Agust Gudmundsson chief executive officer of Bakkavor said: “We are pleased to welcome Haydens to the Bakkavor Group.
“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.
“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.”
Hugh Cawley, chief executive of Real Good Food added:”This disposal marks an important next step in the restructuring and performance improvement of Real Good Food and is line with our turnaround plan for the Group.
“Given the sizeable areas of common interest, we believe that Haydens and its staff will prosper better in partnership with Bakkavor.”
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