Leeds / UK. (ell) According to Endless LLP, a UK based mid-market private equity investor, BBF Limited has announced that it has acquired Sargents Bakeries Limited for an undisclosed sum some weeks ago.
Doncaster-based Sargents, which boasts sweet pies, tarts and sundaes in its product range, has annual revenue of approximately GBP 24 million. The combined business will have turnover approaching GBP 200 million, employ over 1,700 people across six sites and will continue to be led by Jonathan Lill as CEO, supported by the BBF Board of Directors. The site in Doncaster will continue to trade under the name of Sargents Bakeries Limited.
Jonathan Lill, CEO of BBF, commented: «This is another strong acquisition for BBF, our people and our customers. Sargents’ product range and customer base is very complementary and the acquisition will enable us to offer customers even greater flexibility and innovation. Sargents has had a very challenging time recently and we were keen to step in immediately to protect both continued supply to its valued customers and its loyal employees. Across both businesses, we remain committed to continuing to invest and deliver great quality, service and innovation to our customers.»
BBF was acquired in September 2015 by the private equity investor Endless LLP. The acquisition of Sargents is funded through existing BBF facilities.
