Ardenton Enters Baking Business

Ardenton Capital Corporation has announced its fifth investment in the UK: a majority equity position in Manchester-headquartered Food Innovations Baking Group, a manufacturer of specialist products for the home baking and retail market.

Founded in 2004, the business now has 250 employees across five sites and reports revenues in excess of GBP34m. The deal incorporates the acquisition of Doric Cake Crafts, Doric Crimped, Doric FPD and Food Innovations.

The business has grown rapidly through acquisitions, as well as a strategic investment in new technologies that support the delivery of innovative cake craft, decorations, cake boards, and packaging products to market.

Michael Bradbury, director of Ardenton UK, led the deal with support from James Worrall and Jonny Nixon. Bradbury said: “Food Innovations is an impressive business which is really innovating within its sector. Over the last few years, the company has delivered strong organic growth while successfully integrating complementary acquisitions and we confidently back the management team to push the business through its next phase of growth. Further investment in new product development will form a key part of the strategy. Ardenton believes that Food Innovations is the ideal partner for its first step into the UK food sector, a key strategic vertical for the business. Going forward, the team will continue to consider other attractive acquisition opportunities in this space.”

Robert Brace, sales and commercial director, added: “Ardenton shared our vision for the future expansion of the group. Their company ethos and personal approach made them the ideal choice.  We are confident that their wealth of experience and ambition match our own. The partnership with Ardenton will enable the company to pursue new opportunities for innovation, acquisition, and growth.”