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September 14, 2020

‘Interest lodged in UK bread maker Hovis’

Around half a dozen potential suitors have reportedly registered their interest in Hovis, the UK bakery business controlled by private-equity firm The Gores Group.

By Dean Best

Around half a dozen potential suitors have reportedly registered their interest in Hovis, the UK bakery business majority-owned by private-equity firm The Gores Group.

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UK broadcaster Sky News, citing sources, has named private-equity houses Endless and Epiris, as well as asset management group Aurelius Equity Opportunities, as among those to have made indicative offers for Hovis, in which Gores has owned a majority stake since 2014.

The sources said an offer has also been floated by at least one European food producer, although the report did not name those parties.

In June, the broadcaster said advisers had been appointed to handle the sale of Hovis, one of the UK’s three-largest bread businesses.

Premier Foods, the UK manufacturer behind Mr Kipling cakes and Ambrosia custard, sold control of Hovis to Gores six years ago. It continues to own a minority stake in the company.

Epiris declined to comment. just-food has contacted Endless and Aurelius to comment on the Sky News report.

A spokesperson for Hovis said: “We won’t be commenting at this stage.”

Endless’ current portfolio of investments includes UK own-label cake maker Bright Blue Foods. 

Last month, Epiris acquired UK foodservice operator The Big Table, and operates the Bella Italia, Las Iguanas and Café Rouge chains.

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Free Whitepaper
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What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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