UK bakery firm Inter Link Foods has announced that it has made a new licence agreement with Disney and that it has acquired Farmhouse Bakeries.
The agreement with Disney provides Inter Link Foods with the licence to manufacture and market Disney-branded gift and small cakes in the UK and Ireland.
Work has already begun on a new range of Disney cakes that will be available to retailers later this year.
Inter Link Foods also announced the acquisition of Farmhouse Bakery Holdings, based in Herne Bay, Kent for £5m (US$9.18m) in cash. The family-owned company, known as “Hoppers” Farmhouse Bakeries, employs 110 people. Inter Link said the acquisition will bring a number of complementary products to the group’s range with a particular emphasis on Christmas.
Inter Link Foods said that for the six months to 31 October 2003, turnover rose 35% to £33.2m, while EBITDA rose 41% to £3.28m. The company said its first-half trading performance had been in line with its expectations.
The company reiterated its objective to grow the business organically and by selective acquisition and in the medium term become the number two supplier of high quality cakes and pastries in the UK.