Idak Onoré, the new owner of Proper Cornish and Cakesmiths, has reshuffled its British businesses under a new board structure, putting Cakesmiths CEO Chris Ormrod at the head of a new UK holding company.
Ormrod has been joined on the board by former Cakesmiths CFO Scott Trent, and its commercial director Chris Giddings, alongside Proper Cornish’s former operations director Peter Broomfield, pulling both companies directly under its supervision.
The restructure followed the business’ acquisition of a new “little sister” factory in Warminster, producing muffins, scones and filled croissants for Cakesmiths.
Based on the former Maxwell & Franks bakery site, the company’s newly dubbed 20,000 sq ft ‘Cakeminster’ bakery will eventually contribute about 30% of Cakesmiths’ turnover, according to Ormrod.
The former business had been set to wind down, Ormrod said, with Cakesmiths’ asset purchase sparing the jobs of the site’s five “really talented” employees.
“Way, way back there were probably 40 or 50 people, but it was gradually whittled down,” he said.
Having spent a “fair chunk of money” refurbishing and equipping the site, production started at the end of January, two months ahead of schedule, with 20 employees.
The new bakery came online shortly before former owner Onoré was acquired by Swiss frozen goods firm Idak. Completed in early March, the merger saw former Onoré CEO Alexandre Vigneron take the reins of the combined business.
“It is with great joy and excitement that I announce that Idak Food Group and Onoré finally stand together. We are now part of the same group, which I will have the privilege to manage as new group CEO,” he said.
“What an intense journey over the last three years building Onoré. I would like to thank all Onoré employees for the success in building a fantastic group. I now look forward to working with all Idak teams.”
Idak has been owned by private equity firm Towerbrook since July 2024, and has expanded significantly through acquisition under its control.
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