UK: Napier Brown Foods buys baking ingredients firm
The UK's Napier Brown Foods has announced that it has acquired Renshaw Scott, a UK-based manufacturer of baking ingredients, for £18.5m (US$33.1m) from European food group Hero.
In addition the company has entered into an agreement with Hero to manufacture and supply certain Supercook branded retail home baking products.
Renshaw Scott makes retail and industrial marzipans, ready-to-roll icings, baking chocolate and jam, supplying multiple retailers, major cake manufacturers, high street bakers and the sugar craft trade. The company, which has a factory in Liverpool and one in Carluke in Scotland, had turnover of £27.2m in 2003.
"This acquisition continues our strategy of acquiring complementary businesses and gives us significant opportunities to release costs, take advantage of the greater purchasing power and increased manufacturing efficiencies from consolidating Renshaw Scott within our existing business," said Patrick Ridgwell, chairman of Napier Brown Foods.
Headquartered in London, Napier Brown Foods has facilities in Normanton, Runcorn and Thornbury. It is focused on the supply of sugar, value-added sugar, nut products and dairy powders and associated food products.
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