Bakery giant Lyndale Foods plans to expand its retail businesses following recent management changes and a strategic review.
The company has a new chairman, Sandy Birnie, a turnaround expert who joined from sandwich business Oldfields three months ago. Its former chief executive Tony Gearty has left.
Sandy Birnie, told British Baker he had put Lyndale’s Peter Hunt’s division, which manufactures pastry products, up for sale as it "does not fit with the strategic aims of the future of the company".
A number of potential buyers have expressed an interest since it was put on the market last month, Birnie said. The sale was likely to complete in three to six months.
The sale of Peter Hunt’s will enable Lyndale, which is the UK’s second largest retail bakery chain, to focus on its three "hero" retail brands, Birnie said.
These are its premium French concept Maison Blanc, which currently has 15 shops in the south east, Liverpool-based Sayers, which has 123 shops and Bolton-based Hampsons, which has an estate of 109 shops.
Birnie said Lyndale had already phased out tertiary retail brands in its Hampsons business- Annes, Spinks, Burneys and Burtons.
The company was set to expand by acquisition, and the Maison Blanc format launched outside the south east, Birnie indicated.
Sandy Birnie won the Society of Turnaround Professionals award for private company turnaround of the year this year for his work at London-based Oldfields.