McCambridge sells cake division to private equity
McCambridge Group has sold its own-label cake division to private equity firm NBGI Private Equity.
The company said selling the division, which has bakeries in Manchester, Bradford, Blackburn, Salisbury and Szczecin in Poland, would enable it to focus more on growing its malt loaf brand Soreen and its bakery business in Ireland, where it is a market leader in soda bread.
“The group’s focus will now turn to the two remaining divisions and we will continue to develop these business units on the back of the excellent work the divisions have completed already,” said Simon Webber, chairman of the McCambridge Group.
It added that the cake division would be in good hands at NGI Private Equity.
“The cake division has great growth potential. We are delighted that the business has been sold to NBGI Private Equity, who has a track record in owning businesses in the food industry,” said Webber.
The sale had come about following a strategic review and approaches from “interested parties”, he added.