Backed by private-equity firm Endless since 2015, BBF has not disclosed the price it is paying for Doncaster-based Sargents, which has a portfolio taking in jam tarts, fruit pies, mince pies, celebration cakes and sundaes supplied to UK retailers.
Sargents generates annual revenue of GBP24m (US$33m). The combined business will have a turnover of around GBP200m and more than 1,700 employees spread across a total of six manufacturing plants, including one in Poland owned by BBF. Sargents will continue to trade under its own name.
In 2018, BBF acquired a cake and chilled desserts bakery in Hull on England’s north-east coast from Ireland-based convenience food group Greencore.
Blackburn, Lancashire-based BBF supplies major retailers in the UK, including Tesco, Sainsbury’s, Asda and Aldi. It has a branded, own label and licensed product offering.
Jonathan Lill, who was brought in by Endless as CEO of BBF said: “Sargents’ product range and customer base is very complementary and the acquisition will enable us to offer customers even greater flexibility and innovation,” Lill said in a statement. “Across both businesses, we remain committed to continuing to invest and deliver great quality, service and innovation to our customers.”