Food manufacturing company Samworth Brothers is to acquire 2 Sisters Food Group’s Manton Wood sandwich business.
Samworth Brothers, which owns a number of bakery brands, including West Cornwall Pasty Co, Ginsters and The Cornwall Bakery, released a statement declaring that it has conditionally agreed to acquire 2 Sisters’ Manton Wood site, which was formerly part of Solway Foods.
The acquisition is subject to review by the Competition and Markets Authority (CMA) and is expected to be completed in the coming months.
“Samworth Brothers already has considerable experience and presence in the growing food-to-go sector through our own-label operations and our brands. This acquisition provides a great extension to these strong food-to-go capabilities and gives us another outstanding platform to develop our offer in this area,” said Samworth Brothers group chief executive Flor Healy.
2 Sisters Food Group said that the deal was a “major step in transforming its business with a disposal which will allow it to focus on strengthening its core operations”.
Located at Manton Wood, Nottinghamshire, the business to be acquired produces a range of retailer chilled sandwiches, wraps and rolls.
Ranjit Singh, president of Boparan Holdings, parent company of 2 Sisters Food Group, said: “This transaction is a significant deal and marks another positive step forward in the transformation of our business. It further strengthens our balance sheet, with a combined total of more than £350m in cash proceeds from the three disposals we have made in the past six months.
“This deal ensures Manton Wood is sold to a good new home that will enable it to continue to flourish and thrive. Any sale we make has to be at the right time, with the right buyer, and it has to be a deal that fits with our long-term strategy. This deal does just that.”
In October, Samworth Brothers revealed it had partnered with food distribution charity FareShare under its Honest Crust brand.