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March 3, 2020

Singapore foodservice giant SATS snaps up UK peer Monty’s Bakehouse

Singapore-based foodservice heavyweight SATS has acquired a UK airline food specialist for GBP10.1m (US$12.9m).

By Leonie Barrie

Singapore-based foodservice giant SATS has acquired UK airline food specialist Monty’s Bakehouse for GBP10.1m (US$12.9m).

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In an announcement yesterday (2 March) to the Singapore Exchange, on which it is listed, SATS said it had bought 100% of the shares of Monty’s from existing shareholders.

SATS, which is backed by Singapore state-owned investment firm Temasek, operates ten cargo terminals in Asia, supplying catering services to airlines but also services including cleaning, security and aviation laundry.

Monty’s Bakehouse, based in Surrey, near London, was established in 2003 and provides sandwiches, baked snacks and desserts to airlines. It has offices in the United Arab Emirates and manufacturing facilities in Europe, the Middle East and Asia.

It has become a wholly-owned subsidiary of SATS Investments, which is in turn wholly owned by SATS. 

SATS said the purchase will be funded through internal resources and paid in cash. 

It said it intends to bring products and capabilities from Monty’s Bakehouse to its customers in Asia in order to meet the growing demand for buy-on-board meals and snacks.

Related Companies

Free Whitepaper
img

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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