Stevens & Bolton LLP has advised its client Bakkavor Group plc, the leading provider of fresh prepared food and a FTSE 250 listed company, on its acquisition of Haydens Bakery Limited from Real Good Food PLC for £12 million. The acquisition completed in early September.
Bakkavor is the leading provider in the UK’s fresh prepared food (FPF) market (meals, salads, desserts and pizza/bread) and has a growing international presence in the US and China. In the UK it supplies all the UK's leading grocery retailers, including Tesco, M&S, Sainsbury's and Waitrose.
Established in 1976, Haydens is a leading manufacturer of sweet bakery products for the major UK grocery retailers and provides a distribution operation for one of the UK's leading retailers. The business operates from two sites in Devizes, Wiltshire and has around 480 employees. The acquisition will increase Bakkavor’s desserts range and in-store bakery varieties and support growth in their desserts business.
The Stevens & Bolton team was led by corporate partners Ken Woffenden and James Waddell, supported by James Floyd and Emma Leahey (corporate) and colleagues from across the firm’s other specialists practice groups.
Simon Witham, General Counsel and Company Secretary of Bakkavor Group commented: “This was a strategically important acquisition for Bakkavor, strengthening our capabilities in the important UK Desserts market. The project needed to be concluded in a short period of time and we very much appreciated the excellent support and sound legal advice throughout from Stevens & Bolton and their persistence in helping drive the deal through.”
Ken Woffenden commented: “Whilst we have worked with Bakkavor Group for some time in a number of areas, we are delighted that we have now had the opportunity to advise them on an M&A transaction, especially one of such importance.”
James Waddell