Finsbury Food Group has purchased the freehold property of its Lightbody celebration cakes factory in Hamilton, Scotland.
The company – which supplies cake, bread and morning goods to retail and foodservice operators – is expected to pay around £2.6m for the property, including costs.
Finsbury has occupied the 133,000 sq ft site for over 10 years. Employing more than 1,000 people, Lightbody was established in 1885 as a family retail bakery business. It supplies licensed and own-label products after shifting its focus to celebration cakes in the 1980s.
Finsbury acquired the Lightbody business in 2007.
The company said the freehold acquisition would be financed from existing available cash resources, with the move coming a week after Finsbury agreed a new £45m revolving credit facility. At the time of the announcement, the company said the deal gave it increased capacity to explore future growth opportunities and support long-term investment.
Following the purchase of the Lightbody freehold, Finsbury will own the freehold of the whole facility in Hamilton, plus both of its other major sites, in Cardiff and Sheffield.