Bako takes turnover to £100m with acquisition
Preston-based Bako North Western has bought its sister company, Bako Northern & Scotland, in a deal to create a business with a turnover of more than £100m.Bako North Western is expecting to achieve a turnover of £72.2m by the close of September 2015, with County Durham-based Northern & Scotland reachingof £31.7m.
The business will target business opportunities involving large national bakery, restaurant and café chains in northern and Scottish markets.The deal follows the acquisition of Bako London & South East in July 2013.
Mark Tomlinson, chief executive of BAKO North Western, said: "The acquisition of BAKO Northern and Scotland is part of our commitment to invest in the baking industry in the UK. Markets are becoming increasingly competitive and to continue to grow successfully, we were keen on expanding our reach." The Competition and Markets Authority approved the merger, saying: “The transaction will bring together two highly complementary organisations and will build on the strengths of both parties to continue to deliver excellent products and service to customers.”