Napier Brown Foods has acquired baking ingredients manufacturer Renshaw Scott for a total consideration of £18.5m in cash and shares.
The deal covers a range of properties and manufacturing assets based in Liverpool and Carluke in Scotland.
In addition Napier Brown has entered into an agreement with Hero AG, the former owner of Renshaw Scott, to manufacture and supply Supercook branded retail home baking products.
Renshaw Scott employs 120 people at a 150,000 sq ft factory in Liverpool and a further 55 people at its 55,000 sq ft factory in Carluke in Scotland. All these employees will transfer with the business.
Its most recent annual results, for the year to December 31, showed a gross profit of £4.732m on turnover of £27,158m.
Napier Brown Foods chairman Patrick Ridgwell commented: “This acquisition continues our strategy of acquiring complementary businesses and gives us significant opportunities to release costs, take advantage of the greater purchasing power and increased manufacturing efficiencies from consolidating Renshaw Scott within our existing business.
“The recognised product development skills of Renshaw Scott and their strong links with the bakery trade will provide new opportunities for all our divisions.
The deal covers a range of properties and manufacturing assets based in Liverpool and Carluke in Scotland.
In addition Napier Brown has entered into an agreement with Hero AG, the former owner of Renshaw Scott, to manufacture and supply Supercook branded retail home baking products.
Renshaw Scott employs 120 people at a 150,000 sq ft factory in Liverpool and a further 55 people at its 55,000 sq ft factory in Carluke in Scotland. All these employees will transfer with the business.
Its most recent annual results, for the year to December 31, showed a gross profit of £4.732m on turnover of £27,158m.
Napier Brown Foods chairman Patrick Ridgwell commented: “This acquisition continues our strategy of acquiring complementary businesses and gives us significant opportunities to release costs, take advantage of the greater purchasing power and increased manufacturing efficiencies from consolidating Renshaw Scott within our existing business.
“The recognised product development skills of Renshaw Scott and their strong links with the bakery trade will provide new opportunities for all our divisions.
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