UK cake manufacturer Inter Link Foods has announced the acquisition of the trading assets of Yorkshire Cottage Bakeries for a maximum consideration of £12.25m (US$23.0m).
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Inter Link Foods, which makes private label, branded and licensed cake products, said the deal represents its largest acquisition to date. It said Yorkshire Cottage Bakeries has sales of £19.9m in 2004 and estimated operating profit of £2m.
Yorkshire Cottage Bakeries Group operates from three manufacturing sites – two in Bradford, West Yorkshire, and one in Manchester. The company employs 290 people and produces a range of Christmas cakes, which will be new to Inter Link Foods, as well as small buns, mini rolls, cake bars and slab cakes.
Inter Link Foods said the deal brings in products that are complementary to its existing range, as well as significant spare capacity and opportunities for further growth.
“This latest acquisition brings a very successful, well invested, growing business with excellent plant, machinery and spare capacity into the group. We have very clear plans as to how we will be able to capture the full range of opportunities presented by this latest acquisition and I look forward to reporting on our progress,” said Alwin Thompson, executive chairman of Inter Link Foods.
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