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Bakkavor Group (BAKK)

Share Price:
Down 137.40p
Change Today:
-1.60p
Market Cap:
796.13m

Bakkavor sweetens its offering with dessert business acquisition

16 May 19

LONDON (ShareCast) - (Sharecast News) - Bakkavor said on Thursday that it has agreed to buy desserts business Blueberry Foods from Samworth Brothers Limited for an undisclosed sum.
The FTSE 250 food manufacturer said the acquisition, which will be funded from existing facilities, is "a strong strategic fit" and will provide additional cold dessert capacity, new hot desserts capabilities and serve to strengthen the desserts offer to its two largest customers, both of whom are also important customers of Blueberry.

Blueberry, which operates from a custom-built facility in Leicestershire with approximately 420 employees, produces a range of sweet treats for some of the UK's leading grocery retailers. The pudding specialist has expanded its factory footprint and upgraded equipment in the last 18 months following capital investment of more than 10m.

Agust Gudmundsson, chief executive of Bakkavor, said: "The acquisition of Blueberry is a great strategic fit for Bakkavor. Together with our recent addition of Haydens Bakery and a major investment at our site at Newark, our long-term commitment to growing our desserts category in the UK is clear. The team at Blueberry share our passion for providing outstanding service, quality and value to customers and we look forward to welcoming them to the group."

The deal is expected to complete by mid-June

Bakkavor's shares were up 1.11% at 127.40p at 0925 BST.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Market Data

Currency UK Pounds
Price 137.40p
Change Today -1.60p
52 Week High 170.00p
52 Week Low 93.30p
Volume 46,435
Shares Issued 579.43m
Market Cap 796.13m

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Ex-Div 19-Sep-19 02-May-19
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Amount 2.00p 4.00p