Brioche specialist St Pierre has been acquired by international bakery giant Grupo Bimbo.
St Pierre Groupe, previously known as Carrs Foods, has grown rapidly in the past 10 years supplying a range of products including brioche, morning goods and bread.
The business has been bought in its entirety by Mexico-based Grupo Bimbo but will continue to operate independently.
St Pierre Groupe, which produces the St Pierre, Baker Street and Paul Hollywood brands, reported £111.5m turnover and £7m operating profit in its accounts for the year ending 31 December 2021.
Originally a supplier of own-label baked goods to UK retail, it now has an international footprint that includes the UK, Ireland, the Middle East and the US. The company stated its St Pierre brand is the biggest brioche brand in US and the UK.
“St Pierre Groupe is an entrepreneurial business that has achieved phenomenal success, both at home and internationally, using insight to develop brands and products that carry global appeal,” stated the company when it confirmed the acquisition.
“This is a fantastic achievement for our business and we are excited for the opportunities we will be able to take advantage of as part of the Grupo Bimbo family. Grupo Bimbo has the right infrastructure and expertise to propel our brands on to even greater success.”
Grupo Bimbo is described as the world’s largest bakery business. Operating more than 200 bakeries in 33 countries, it claims a 4% share of the global bakery market.
Grupo Bimbo expanded into the UK in 2014 with the acquisition of Rotherham-based Canada Bread from Maple Leaf Foods. It produces bagels in the UK under the New York Bakery Co brand.
The company said it was delighted to welcome St Pierre Groupe.
”As the biggest brioche brand in the UK and America, it has already seen tremendous success within the category,” aded a Grupo Bimbo spokesperson. ”We look forward to the success that both businesses will have as we move into the future together.”
St Pierre’s origins date back to 1986 and the launch of own-label baked goods supplier Carrs Foods, which supplied supermarket chains including Tesco.
In 2004 Jeremy Gilboy and Paul Baker completed a management buyout of Carrs, transforming the operation from own-label cake supply to selling baked goods under three brands.
Around ten years ago the business launched an export push targeting the US, with Baker hiring a Dodge Challenger to travel the country showcasing Carr’s brioche and bakery products to retailers. Two years later the business began exporting to the US.
In 2019 the business secured investment from private equity firm BGF and changed its name to St Pierre Groupe.
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