The deal will allow Bakkavor to expand its Newark-based Desserts division, which is currently undergoing a £ 20million ($ 25.8million) investment to create 300 jobs in the city.
Bakkavor manufactures fresh prepared foods in four categories – meals, salads, desserts and pizzas and breads – specifically for major UK retailers including Tesco, M&S, Sainsbury’s and Waitrose, but also has a growing international presence in the US and China. .
The group recorded an increase in its profit and turnover in the first half of the year.
In the 26 weeks leading up to June 30, profit before tax rose 38.9% to £ 47.1million ($ 60.8million) on revenue of £ 910.4million (1 , $ 17 billion), up 0.8% from the previous year.
“[Haydens] is a company that shares Bakkavor’s passion for providing exceptional service, quality and value to its customers and has a reputation for providing some of the best sweet treats to major UK retailers ”, said Agust Gudmundsson, CEO of Bakkavor.
Haydens was established in 1976 and manufactures sweet baked goods for the UK’s leading food retailers. The company operates from two sites in Devizes, Wiltshire, and has around 480 employees.
A capital investment of £ 15million ($ 19.3million) over the past 18 months has transformed the bakery’s operations, increasing capacity, expanding its footprint and modernizing equipment and infrastructure.
For its fiscal year ended March 31, 2017, Haydens generated £ 31.3 million ($ 40.4 million) in revenue and broke even in operating profit.
The deal excludes Chantilly, a Devon-based pastry shop that produces hand-assembled frozen desserts.