UK: McCambridge sells own-label cake unit to PE firm NBGI
Chairman Simon Webber said the cake division has “great growth potential”
UK baked goods company McCambridge has sold its own-label cake division to private-equity firm NBGI.
The deal, announced this morning (5 December), is for a business that operates bakeries in Manchester, Bradford, Blackburn, Salisbury and Szczecin in Poland, produces a range of cakes and pies for leading retailers.
Chairman Simon Webber said the cake division had "great growth potential". However, he insisted a strategic review coupled with approaches from potential acquirers led the company to believe the unit would benefit from being demerged and managed as a separate entity.
"We are delighted that the business has been sold to NBGI Private Equity, who have a track record in owning businesses in the food industry," said Webber. "The successful sale of the cake division is a great credit to all management and employees."
Webber said the group's focus will now turn to the firm's two remaining divisions: Soreen malt loaves and fruit loaf products; and its bakery business in Ireland.
"We will continue to develop these business units on the back of the excellent work the divisions have completed already," Webber said.
- Kellogg uses Kashi to finally join party - comment
- Rabobank's early view on Brexit impact on food
- New food waste standard will help monitor progress
- Tyrrells' growth plans - CEO interview, part two
- How could a TTIP affect the food industry?
- Brexit – Live reaction from food industry
- Kellogg to invest in "next-generation innovation"
- PepsiCo "engaging" with Indofood on child labour
- Campaigners attack UK child obesity plan
- Post, ConAgra 'held talks' over Lamb Weston merger
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Singapore Food and Drink Report Q3 2016
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights