02/10/2018 – News / Food Processing / Sweet Bakery Products / Bakkavor / Haydens Bakery / UK
Bakkavor Group acquires Haydens Bakery for £12m
Bakkavor Group, the UK’s leading provider of fresh prepared food, has announced the strategic acquisition of Haydens Bakery Limited from Real Good Food for £12m (US$15.6m).
Established in 1976, Haydens is a leading manufacturer of sweet bakery products for the major UK grocery retailers and provides a distribution operation for one of the UK’s leading retailers. The business operates from two sites in Devizes, Wiltshire, and has around 480 employees.
Capital investment of £15m (US$19.5m) over the last 18 months has transformed the bakery’s operations, adding significant capacity, expanding the existing footprint and upgrading equipment and infrastructure. In the financial year ending 31 March 2017, Haydens generated revenues of £31.3m (US$40.8m).
According to Bakkavor, the acquisition will increase the breadth and depth of the group’s desserts range, extending its in-store bakery offering, as well as supporting growth in its desserts business, which, combined with the ongoing major expansion of Bakkavor’s facility in Newark, will provide increased and high-quality capacity, as well as state-of-the-art automation. The acquisition is also expected to realise meaningful operational synergies by incorporating Haydens into Bakkavor’s existing business.
Commenting on the acquisition, Agust Gudmundsson, CEO of Bakkavor Group, 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.”