French industrial bakery business Groupe Menissez has acquired UK-based Village Bakery from private-equity firm Limerston Capital.
Financial details were not disclosed.
Village Bakery produces baked goods for customers in the retail, hospitality and foodservice sectors in the UK including for Tesco, Sainsbury’s, The Co-op and Marks and Spencer.
London-based Limerston Capital first invested in Village Bakery in 2021 and has overseen a “period of investment and rapid growth” including the opening of a new 140,000-square-foot bakery at the company’s headquarters, according to a statement.
The private-equity firm added staff numbers had nearly doubled since 2021, taking the company to a team of over 900 employees.
Robin Jones, CEO and co-owner of Village Bakery, said: “I would like to thank Limerston Capital and their team for their input, support and playing their part in growing Village Bakery into what it is today.
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“We can all be very proud of our achievements over the past three years, the quality of the platform that we have built and the exciting future for the business working with Groupe Menissez.”
Groupe Menissez, founded in 1965, is based in Feignies in northern France. It generates group sales of around €600m ($650m) and has added to “its partnerships” with Boulart in Canada, Délice de France in the UK, Van Roy in the Netherlands and Lemarié Patissier in France.
João Rosa, founding partner at Limerston Capital, said: “We are delighted to have exited Village Bakery ahead of plan, following a period of significant investment, development and rapid growth for the company.
“We wish the team well and we are delighted that Groupe Menissez will be overseeing the company’s next phase of growth.”
In the twelve months ended 24 September 2023, Village Bakery turned over £98m ($126m), compared to £69.1m the previous year.
The business posted an operating profit of £5.4m, up from a loss of £150,000 the year before. Net profit reached £3.8m for the year, up from a loss of £2.2m in 2022.
Just Food has approached Groupe Menissez for comment.
