UK bakery Warburtons has sold malt loaf manufacturer Soreen to compatriot cake company Inter Link Foods for £8.4m (US$13.6m).
Go deeper with GlobalData
Apart from its malt loaf, which is the UK’s third biggest-selling branded cake, Urmston-based Soreen also manufactures fruit loaves, snacks, cereal bars and own-brand malt loaf to supermarkets.
Soreen, which currently employs 140 people, was formed as part of Manchester’s Imperial Bakeries and was bought by Warburtons in 1959. In 2001 Soreen posted turnover of £10.2m and operating profit of £1.37m.
Inter Link, which makes sponge cakes, celebration cakes, swiss rolls, chocolate mini rolls and bakewell tarts, yesterday [Wednesday] posted record interim results.
The company said it turnover in the six months to 31 October was £24.5m, a rise of 9% year-on-year. Pre-tax profits were up 11% to £1.6m, reported the Manchester Evening News.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
