Park Cakes, the UK own-label cake and dessert supplier, has been acquired in a management buy-out from private-equity firm Vision Capital.
The company, which manufactures products for retailers including Tesco, Sainsbury’s, Aldi and Lidl, had been owned by Vision Capital since 2007.
Go deeper with GlobalData
In a statement confirming the deal, Park Cakes said the sale “would not affect its manufacturing sites or current workforce” but “allows chairman Gareth Voyle and the team behind Park Cakes growth to continue to build on the success of recent years”.
Park Cakes said its turnover stood at GBP160m (US$197.5m), which it compared to the GBP110m it was generating in 2013. The company has two plants in north-west England and employs 1,500 staff.
Voyle added: “Park Cakes is a leading supplier of cakes and desserts and is proud to supply the UK’s leading retailers with premium quality products. I would like to pay tribute to our highly skilled and loyal workforce, who remain at the heart of our commitment to grow our company in the years to come.”
See Also:
The financial details of the management buy-out were not disclosed. A spokesperson for Park Cakes said the company would not be commenting further “as these are very early days” for the business under its new owners.
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
