Leeds based Symington’s - fresh from being crowned as The Grocer’s Own-Label Supplier of the Year - has acquired family-owned baking business Victoria Foods.
Symington’s, which already produces the Aunt Bessie’s and James Martin brands under license, said the deal represented a major boost for the UK’s home baking category, which is estimated to be worth £576m [Mintel].
As part of the deal, Victoria managing director Dan Ross will join the Symington’s business.
Victoria was founded in 1982 and manufactures cake and baking mixes, including products for desserts and drinks. Its portfolio includes own-label brands –representing two-thirds of the business – as well as children’s character-themed brands and mixes produced in conjunction with Jane Asher, Nestle and Weightwatchers.
“Our two companies have a proven track record of success in this growing category and working together we are very well placed to continue to surprise and delight our consumers who enjoy baking at home,” said Symington’s chief executive David Salkeld.
The news comes after Symington’s previous private equity backer Bridgepoint sold its minority stake to Intermediate Capital Group. Symington’s said at the time the deal would provide the company with “a strong platform for future growth and expansion”.