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August 24, 2020

Golden Acre Food Group acquires Bagel Nash out of administration

Golden Acre Food Group, a UK-based dairy to cured meats and pastry manufacturer, has acquired a bakery business in Leeds.

By Dean Best

Golden Acre Food Group, a UK-based dairy to cured meats and pastry manufacturer, has acquired Bagel Nash out of administration.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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London-headquartered joint administrators BDO LLP said a sale of Bagel Nash’s commercial bakery business in the northern city of Leeds was completed this month in an accelerated merger and acquisition (AMA) process by Golden Acre Bakery Ltd., part of Golden Acre Food Group, for an undisclosed sum.

The deal does not include Bagel Nash’s retail operations, which remain unaffected by the administration process, which commenced on 4 August, a BDO spokesperson confirmed.

Privately-held Bagel Nash supplies the retail and foodservice channels with artisan bagels offering plain wheat flour varieties, along with wholemeal, gluten-free and filled bagels. The business was founded in the late 1980s and employs 52 people.

Graham Newton, BDO business restructuring partner, said in a statement: “Due to the challenging market conditions brought about by Covid-19, the Company engaged BDO to undertake an AMA of the business and assets. Following a successful completion of the sale, all employees have been retained.” 

just-food has also approached Golden Acre Food Group to comment on the deal for Bagel Nash.

Golden Acre supplies branded and private-label products to retail and foodservice customers, including the major UK supermarket chains Tesco, Sainsbury’s, Morrisons and Asda, as well as The Co-op, Waitrose, Aldi, Iceland and Booker Wholesale.

The company’s products also feature seafood and protein drinks, with a portfolio consisting of its namesake brand and also Najma and Elsinore. The business is based in the town of Runnymede in Surrey, south-west of London.  

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Free Report
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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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