ABF Acquires Hovis Group Limited
Associated British Foods completed its acquisition of Hovis Group Limited from Endless LLP. The integration of the two businesses will commence shortly with a focus on production and distribution.
From July 8, Allied Bakeries and Hovis Group have operated as Hovis Bakeries, under the brand line “Nourishing the Nation”. The business will invest in the segments of the UK bakery industry that are growing as a result of changing consumer tastes and needs, including healthier options.
The Chief Executive of ABF, George Weston, stated: “The completion of this transaction is a significant step towards the delivery of a profitable UK bread business. By combining our expertise, scale and capabilities with targeted investment into new product categories, this business can return to growth, provide greater consumer choice, serve our customers better than ever and so create value for shareholders. The transaction will support the wider UK economy, including by securing high-quality jobs. I am confident that our uniquely capable team have the right plans to build this business.”
Sarah Arrowsmith, the Chief Executive of Hovis Bakeries, said: “This is an exciting opportunity to create a large and transformative UK bakery business. We will now begin the work of revitalising our brands through innovation, becoming the UK’s best own-label bakery partner and strengthening our position as the bakery industry’s route to market through our unique direct-to-store network.”
The ABF is a multinational food, ingredients and retail company headquartered in London.
