A management team at own label cake maker Oakdale Bakeries has bought the company from founder Marshall Capel for an undisclosed sum.
New chief executive Des Kingsley said cash was available to invest in strengthening the management team and expanding the tart and fruit pie facility in Doncaster.
He said: “Oakdale is a fantastic business with great potential for growth and we are all very excited about the future. However, we cannot afford to rest on our laurels. We will be making significant investment in upgrading our existing facilities, and should the right opportunity arise, acquiring new businesses.”
The deal was advised by Islandsbanki, which also provided the acquisition financing (excluding the contribution from the buy-out team) and the refinancing of the existing debt facilities.
A leading supplier of mini Swiss rolls, bite-sized cakes, fruit pies and malt loaves from sites in Morley, Doncaster and Wigan, Oakdale also has a growing export business.
The company’s turnover is projected to be £37m this financial year.
New chief executive Des Kingsley said cash was available to invest in strengthening the management team and expanding the tart and fruit pie facility in Doncaster.
He said: “Oakdale is a fantastic business with great potential for growth and we are all very excited about the future. However, we cannot afford to rest on our laurels. We will be making significant investment in upgrading our existing facilities, and should the right opportunity arise, acquiring new businesses.”
The deal was advised by Islandsbanki, which also provided the acquisition financing (excluding the contribution from the buy-out team) and the refinancing of the existing debt facilities.
A leading supplier of mini Swiss rolls, bite-sized cakes, fruit pies and malt loaves from sites in Morley, Doncaster and Wigan, Oakdale also has a growing export business.
The company’s turnover is projected to be £37m this financial year.
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