Frozen ready meal and pastry supplier Apetito is poised to break into the supermarket sector after acquiring Dudley-based Butcher & Baker Foods.
The baked and unbaked savoury pastries specialist is worth £6m in annual sales. It was bought for £225,000, although Apetito has also cleared "significant losses" incurred by the business in the last two years. Trowbridge-based Apetito said the deal would enable it to extend its services to grocery retailers as well as the foodservice sector.
Apetito intends to create a R&D facility on the Dudley site in the next six months. Chief executive Paul Freeston has also promised to invest £750,000 at Dudley in the next year to extend the company's market penetration and range offering. Apetito will continue production of the Butcher & Baker brand.
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The baked and unbaked savoury pastries specialist is worth £6m in annual sales. It was bought for £225,000, although Apetito has also cleared "significant losses" incurred by the business in the last two years. Trowbridge-based Apetito said the deal would enable it to extend its services to grocery retailers as well as the foodservice sector.
Apetito intends to create a R&D facility on the Dudley site in the next six months. Chief executive Paul Freeston has also promised to invest £750,000 at Dudley in the next year to extend the company's market penetration and range offering. Apetito will continue production of the Butcher & Baker brand.
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