UK food firm RHM has announced that it has sold bakery chain Three Cooks to Cooks Ltd, a new company formed to acquire the Three Cooks business.
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RHM said it was selling Three Cooks, a chain of over 250 bakery and snack food retail outlets, because it was considered a non-core unit.
“We have acquired Three Cooks because we believe the business has fantastic potential not only to improve current performance but also to grow its presence in three very interesting market places: food-on-the-move, retailer bakeries and catering. We are committed to expansion,” said Cooks chairman Geoff Peppiatt.
Separately, RHM said it has sold its Pasta Foods unit to a management buy-out team for an undisclosed sum.
Pasta Foods sells Marshall’s branded pasta to retailers and snack pellets and ingredient pasta to a range of food processors in international markets.
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By GlobalData“Following a review of our activities, we identified Pasta Foods and Three Cooks as non-core activities. We are pleased that both companies will be taken forward by management teams able to focus independently on their future development,” said Ian McMahon, RHM group chief executive.
