Samworth acquires West Cornwall Pasty Company
Ginsters owner Samworth Brothers has acquired West Cornwall Pasty Co (WCPC) from private equity investor Endless LLP, British Baker has learned.
According to a Samworth spokesperson: “The acquisition includes West Cornwall Pasty Co’s 33 wholly-owned outlets in UK rail stations and high street locations, a further 19 franchised outlets in Moto service stations and the company’s head office and distribution centre in Aylesbury, Buckinghamshire.”
Samworth’s consumer brands include pasty business Ginsters and malt loaf brand Soreen.
Samworth Brothers group chief executive Alex Knight told British Baker: “Samworth Brothers already has a considerable experience and presence in both the food-to-go and savoury pastry market through our existing brands and own-label operations.
“We see the hot food-to-go sector as one area of real opportunity. This acquisition provides a great extension to our hot food-to-go capabilities and gives us another outstanding platform to develop our offer in this area.”
He added that WCPC's franchised outlets "will continue to operate in the same way as they do today", and that WCPC "has some strong supplier partnerships and we do not expect any changes in these arrangements in the foreseeable future."
When asked whether Samworth will turn WCPC into a retail brand in terms of forecourts and c stores, he said "The acquisition has just happened. It is too early to talk about this but the acquisition will provide a great extension to our savoury pastry and hot food to go capabilities and gives us an additional outstanding platform and brand to develop in this area. This is a business and a brand which are growing strongly and we intend to invest further to extend this success."
In October, Leicestershire-based Samworth Brothers said in a trading statement its investment in staff and facilities had paid off, with revenues topping £900m.
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