Roberts Bakery has been rescued by Boparan Private Office, the private investment firm owned by Ranjit Singh Boparan, saving more than 400 jobs and preserving the 138-year-old business.
An investment of an undisclosed amount has resulted in the creation of a new company, Roberts Bakery 1887 Ltd.
The deal saves the jobs of the 433 Roberts staff working across three factories and safeguards the business for the future.
Roberts Bakery 1887 Ltd will form part of the Boparan Private Office portfolio of companies, benefiting from the “backing and expertise of a strong and diverse enterprise with established interests in the bakery sector”, according to a statement.
The partnership will support the existing management team and bring new talent into the business to ensure “a sustainable and exciting future for this iconic brand”, it added.
A spokesperson for Boparan Private Office said: “We are proud to play a part in preserving this iconic bakery, its people, and its heritage. Frank Roberts & Sons has been at the heart of the community for over a century, and we are committed to supporting its long-term success as Roberts Bakery 1887 Ltd.”
In a statement on the investment, the Roberts family added: “The Roberts family are profoundly relieved that the business has been saved by a consortium of the management team backed by BPO and that there will be a recovery plan to ensure it can prosper and thrive and that so many jobs will be saved. We are of course sad it will no longer be us who are there to share in this new opportunity.
“It has been our utter privilege to have known so many of the people who have worked with us, and we wish you all our very best wishes for the future.”
Financial details of the transaction have not been revealed.
It follows The Grocer revealing last week that Roberts had been working with financial services firm PwC in recent months to explore options to save the business. Roberts filed a notice of intention (NOI) to appoint an administrator with the courts on 6 October.
PwC confirmed this morning Sarah O’Toole, Perry Higgins and Helen Wheeler-Jones were appointed as joint administrators today (15 October).
PwC said a consultation process for a number of employees was already ongoing prior to the appointment. As a result, 86 employees were made redundant as Roberts entered administration.
The separate statement from PwC stated the sale of the business and assets to BPO included the main factory in Northwich and the biscuits facility in Winsford.
The outcome for the speciality bread site in Ilkeston has not been made clear. The Grocer is seeking further clarification.
PwC partner Sarah O’Toole said: “We are pleased to have completed the sale of the business and assets of Frank Roberts & Sons Ltd, securing the future of the bakery and safeguarding 433 jobs. This outcome provides continuity for employees, customers and suppliers, and preserves a well-known brand with a proud heritage. We wish the new owners and the team every success for the future.”
It is unclear who has been running the Roberts business in recent months as Companies House filings showed MD Julia Banton, CFO Graham Melia and finance director Steve Moon were terminated as directors on 2 July, 1 May and 26 August respectively. CEO Bill Thurston also left the group in January this year.
In July, Roberts confirmed to The Grocer that Banton had stepped down from the board as part of a planned restructuring process, but she continued to support the business on “several specific workstreams during this transitional phase”.
The restructure led the Roberts entering consultation with 250 of its staff at the main Cheshire factory and headquarters. In September, the group took the decision to close its Derbyshire plant in Ilkeston, which makes speciality bread and morning goods, as turnaround efforts continued, with another 38 jobs at risk of redundancy.
Roberts has struggled since a fire at its Northwich factory wiped out almost two-thirds of its production capacity in 2023. It led to a 21% fall in turnover to £76m in the year ended 31 August 2024.
Bread volumes have struggled to recover as the business also battled the wider difficulties in the traditional sliced bread market.
Roberts can trace its history back to 1887 and today operates from three sites in Northwich, Ilkeston and Winsford, making biscuits at the latter factory. The group employed more than 750 staff and turned over in excess of £100m before its troubles started.
Boparan Private Office has a broad portfolio spanning food production, hospitality and consumer brands, including restaurant chains Carluccio’s, Gourmet Burger Kitchen and Giraffe.
The firm already owns bakery assets after buying Holland’s Pies, Portumna Pastry and hot cross bun maker Gunstones Bakery from 2 Sisters Food Group in 2023.
BPO also acquired the 2 Sisters biscuit factory in Uttoxeter in 2023.
BPO owns a fully integrated poultry supply chain after deals to pick up Bernard Matthews, Banham Poultry, the European 2 Sisters poultry business and, most recently, Hook 2 Sisters, the joint venture poultry farming operation of 2 Sisters. All these deals have made BPO worth more than 2 Sisters Group itself, with combined sales well in excess of £3bn.
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