Flour Power Group, owner of Patisserie Valerie and Bakers & Baristas, has appointed Vikesh Patel as the new CEO and MD to oversee the group’s brands.
Patel will replace current CEO James Fleming, who is leaving the business after seven years “to pursue other opportunities”.
Patel joined the group in 2018 when it acquired the coffee brand he founded, Love Koffee. He spent six years as the group’s chief operating officer, looking after Bakers & Baristas since 2019 and Patisserie Valerie since 2020.
“I’m thrilled to lead such a talented team in shaping the next stage of growth for the group,” he said.
“Building on the strong heritage of our brands, and our market-leading innovation pipeline, I’m excited about the growth opportunities across all our channels.”
Flour Power Group is majority-owned by Causeway Capital, which acquired Patisserie Valerie for £8m against an initial £450m valuation after the brand collapsed into administration in 2019.
Since acquiring the brand, Causeway has closed all but 29 of Patisserie Valerie’s 171 stores, which resulted in 900 jobs lost between 2019 and 2024.
The bakery brand has kept its grocery channel, with 400 Sainsbury’s shops stocking its baked goods across the country to date.
No comments yet