A £15m Yorkshire-based biscuit and confectionery specialist Right Angle Marketing (York) has been sold in a management buy-out (MBO) for an undisclosed seven-figure sum.
The business, founded by Steve and Hilary Angle in 2001 has been bought by fellow director John Haken in a deal involving a structured handover for the next five years.
Right Angle Marketing, based at Pocklington near York, sources and markets biscuits and confectionery, selling both branded and private-label products to major multiples and discount retailers in the UK. It sells over 5m tins of biscuits a year and markets UK value shortbread brand Highland Speciality. Other products include high-quality all butter and everyday fudge, mallow products such as Snowrolls, chocolate biscuits, wafer rolls, Belgian chocolate coins and other novelty and seasonal confectionery from leading manufacturers in the UK and around the world.
The firm’s Highland Speciality Shortbread range is manufactured in Scottish bakery Campbells Shortbread of Callander, Perthshire and sells over 12m packs of shortbread each year.
John Haken will acquire 90% of the group and take the reins as managing director, working alongside Steve Angle, who remains with the business as executive chairman for the next four years.
Haken said: “Steve and Hilary have established a highly reputable stable of brands, developed specifically for this sector and has created a fantastic foundation from which to grow the business in the coming years. I am looking forward to further extending and developing the portfolio of products that we are so well known for in the retail sector.”