Australian baker Temptation Bakeries has been sold to private-equity firm Bakers Investment Group for an undisclosed sum.
Angus Ratcliff, the general manager of the Melbourne-based sweet and savoury baked products maker, confirmed the sale of the company to just-food today (29 November).
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However, Ratcliff declined to give details about the transaction until a formal statement is released later this week.
The sale of Temptation Bakeries reportedly followed a formal auction process that was conducted over the past few months.
Temptation Bakeries, which has been owned by the Ratcliff family for more than 20 years, produces baked products including finger foods, pies, quiches and pastries.
The company’s products are sold through supermarkets, cafes and on domestic flights of Australian airline Qantas Airways. Outlets supplied by Temptation Bakeries in Australia include Woolworths Ltd, which carries a selection of the bakery firm’s products such as Petite Quiches and Vol Au Vents in its freezer aisles.
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By GlobalData
