The world’s leading manufacturer of hotplates for the food industry has been acquired as part of a deal worth upwards of £1m.
Baldwin Engineering Holdings bought UK-based Sugden for a sum described only as “seven-figure”. Sugden makes hotplates for use in the production of crumpets, pancakes, potato cakes, muffins and other savouries by major food brands across the world.
The two companies already collaborate on many projects and list major manufacturers such as Warburton’s, Premier Foods, and Allied Bakeries among their clients. Their merger will create new jobs for the local economy, according to the chair of the Lancashire County Council’s economic development company.
Niki Penney said: “We’re pleased that Rosebud has been able to help to bring together these two companies. This will safeguard jobs… and help them to expand their manufacturing operations, creating new jobs in the future.
Paul Taberner of Enterprise Ventures, which worked on behalf of the council’s development company, said: “This acquisition makes a lot of sense. It gives Baldwin a facility to manufacture, where it previously subcontracted, and offers Sugden the security to move forward and expand its product range into existing and new markets. It also makes it easier for their major food clients which often prefer to deal with a single supplier.”
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