D&G Food Group has acquired five bakery businesses from Dublin-based McCambridge Group Holdings for an undisclosed sum. D&G Food is owned by food entrepreneurs David Fearnley-Brown and Graham March.
D&G Food Group has acquired five bakery businesses from Dublin-based McCambridge Group Holdings for an undisclosed sum. D&G Food is owned by food entrepreneurs David Fearnley-Brown and Graham March.
The acquired businesses stretch from Derbyshire to the South West and comprise Aldreds the Bakers, WR & SW Hussey, Queen of Hearts (UK), Tredinnick Fine Foods and West of England Bakeries. Between them, the companies employ 200 staff and have a combined turnover of £17 million.
March and Fearnley-Brown commented: ‘We are really excited about this turnaround opportunity and are confident we can return the businesses to profitability within the next three years.’
The deal was backed by asset-based lender Venture Finance. Cyril Ryder, regional manager of Venture Finance, said: ‘D&G Food has an encouraging business plan and the necessary acumen and ambition to make it a success. We were more than glad to provide funding for the deal. The invoice discounting facility will deliver immediate working capital for D&G’s management team during the often-difficult post-acquisition phase, as well as the long-term financial support to drive future growth.’
Other advisers in the deal include law firm DWF LLP and financial advisory firm DTE Corporate Finance.
