Baker & Baker Launched as Standalone Business
Baker & Baker, a specialist European bakery products manufacturer headquartered in the UK, has today been formally launched following the separation of CSM Bakery Solutions.
The EUR400m turnover business is a European leader in the bakery convenience market, operating across 12 sites in seven countries, with more than 2,500 employees. Alongside maintaining and growing its UK market share, the business will also focus on maximizing untapped growth opportunities throughout continental Europe.
According to a company press release, the company already possesses an established footprint in Germany, Benelux, France, Italy and Iberia, and will prioritize the expansion of its customer base and explore new opportunities in step with the easing of COVID restrictions across continental Europe and selected rapidly emerging international markets.
“Baker & Baker will continue to build on its strong market share in the American Sweet Bakery segment – which includes donuts, cookies and specialty muffins – and in particular, via its long-term, successful partnership with Mondelez, which sees the business manufacture and distribute a broad range of bakery products under the Cadbury, Oreo, Milka and Daim brand names,” said the company.
Rhône, through affiliated investment funds, will retain its ownership of Baker & Baker and Brill North America following the completed sale of CSM Ingredients to InvestIndustrial.
John Lindsay, Baker & Baker CEO, commented: “Today marks the next exciting chapter in the continued evolution of our impressive bakery products offering through the formation of Baker & Baker as a focused standalone business. As many European countries and regions prepare to loosen COVID-19 restrictions during the summer, we’re well placed to see growth return with artisanal bakers and with customers in the hospitality sector. While we bid farewell to many colleagues who will remain with CSM Ingredients, we’re confident their business will also continue their growth trajectory within the bakery ingredients market.”
Gianpiero Lenza, managing director of Rhône, added: “We’re pleased to have completed the significant and complex divestment of the European CSM Bakery Solutions business, and will now focus on investing resources to further strengthen Baker & Baker’s position in the European bakery convenience segment by growing and diversifying its customer base via product innovation and new product development.”