Signature Flatbreads has bought out its joint venture partner Aryzta.
The move means the Eid family will now become the owners of Signature Flatbreads, which supplies flatbreads, naan breads and tortillas to the UK market.
Signature was established in 1984 as Honeytop Speciality Foods by Samir Eid. His sons William and Charles (pictured above) took over the business three years later and, in 1999, Signature relocated to its current site in Dunstable.
Honeytop was acquired by Aryzta in 2011, and was replaced by joint venture Signature Flatbreads in 2015. The following year, Signature was named Bakery Manufacturer of the Year in the Baking Industry Awards.
Aryzta is now exiting its non-core businesses to concentrate on its frozen B2B bakery operations following a troubled trading period. The business has today (12 March) announced a sharp slump in profits.
The Eid family, who have bought out Aryzta’s shareholding to become the owners of Signature Flatbreads, said they remained “passionate about the business and the people within it”.
“Aryzta helped us to transition from a medium-sized business to a larger organisation, employing many hundreds of people,” said joint CEO William Eid.
“As we become a family business once again, we will retain the disciplines required to support our growth, while building on our passions and the drive for innovation we have become recognised for. We look forward to an amazing future with our customers, suppliers and with everyone within the business.”
The Eid family also own a facility in Nashik, India, that was not part of the joint venture.
Earlier this year, the business told British Baker it hoped to grow the market for chapatis in the UK and continental Europe by supplying breads prepared at its bakery in India.