Carr’s Milling Industries is set to double the size of its flour business by acquiring two new flour mills.
The company has conditionally agreed to buy Meneba UK Holdings, which owns a mill in Fife and another in Essex, for about £4.7 million.
If shareholders agree to the move, Carr’s directors said that it will allow them to increase supply of in-store and craft bakeries in the north of the UK as well as craft and ethnic bakery sectors in south east England.
It was reported that Carr’s would have to repay approximately £5.4 million of Meneba’s debt owed to parent company Maxeres.