New £100M investor for Bakkavör

An American hedge fund has invested in excess of £100M in Britain’s biggest prepared fresh foods supplier.

The Boston-based Baupost Group has bought shares in the privately owned Bakkavör Group as part of a wider ownership shake-up of the company. As a result, Bakk AL Holdings, (a company owned by Agust & Lydur Gudmundsson and funds managed by The Baupost Group), now owns approximately 89% of the outstanding shares in Bakkavör.

Agust Gudmundsson, chief executive of the Bakkavör Group said: “I am delighted to welcome The Baupost Group to Bakkavör. They are globally recognised as highly successful long-term investors and are supportive of the company’s continued expansion plans.”

In a statement, Bakkavör described The Baupost Group as “investors with experience investing in a wide range of securities and asset classes globally, including within the food sector”.

UK and global interests

Agust and Lydur Gudmundsson, who own a controlling interest in Bakk AL Holdings, will remain in their current roles and retain their positions as chief executive and chairman respectively.

Bakkavör employs more than 18,000 people globally and produces more than 5,500 products in 18 different categories, including bakery. Products include pre-cooked baguettes, dough balls and ciabattas. In the UK, customers include Tesco, Marks & Spencer, Sainsbury’s, Waitrose, Asda and Morrisons. 

Want more stories like this in your inbox?

Sign up for our FREE email newsletter

Keywords:

My Account

Spotlight

Most read

Social