Finlays Food

Finlay’s Food will open up new markets for Bako

Bakery ingredients supplier Bako has expanded its reach into Northern Ireland with the acquisition of Finlay’s Food for an undisclosed sum.

Founded in 1976 and based in Craigavon, Finlay’s manufactures and supplies ingredients to the bakery and general food industry, with its customer base extending throughout Northern Ireland and into the Republic of Ireland, as well as the UK, Europe and Asia. It generates annual revenues of about £26m and employs more than 60 staff.

Bako was established 60 years ago and is owned by almost 700 shareholders, who are all bakers. The company provides independent bakers and caterers with a range of ingredients and finished products sourced from suppliers and its own Bako Select branded range. It operates from depots in Preston, Durham and Wimbledon, employs 312 staff across the three sites and has revenues of more than £180m.

“This acquisition opens up new markets for us in Northern Ireland and beyond, offering significant growth opportunities,” said Bako CEO Mike Tully. “Finlay’s Foods has established a strong presence and loyal customer base, which we intend to build upon and expand.

“By integrating Finlay’s Foods’ product line with our own, we are able to diversify our offerings and enhance our competitive edge. Their expertise in bakery products complements our current portfolio and opens up a wide range of cross-selling opportunities.”

Finlay’s Foods sales director Patrick Gracey added: “Finlay’s has had a long-standing relationship with Bako both as a customer and supplier for over 20 years. This is a natural evolution that benefits both companies and will enable us to build on our customer-focused approach, facilitating the delivery of more choice opportunities and benefits to our loyal customer base.”

Corporate finance house Oghma Partners acted as financial advisor to Bako on the acquisition. It marks the advisory firm’s 28th deal in the ingredients market and its fifth transaction of 2024.