Patisserie Holdings is further expanding its presence with the acquisition of four former Maison Blanc sites and the extension of a retail tie-up with Sainsbury’s.
This week, the business is reopening the former Maison Blanc site in Chiswick, London, as a Patisserie Valerie (pictured above), and has also acquired the Maison Blanc sites in Oxford, Guildford and Winchester.
All three will become Patisserie Valerie outlets, although opening dates have not yet been confirmed.
Late last year, Patisserie Holdings was tipped to be a front-runner to acquire the Maison Blanc operation after Maison Blanc appointed property firm Davis Coffer Lyons to review its trading locations.
Announcing its first half-year results in May, Patisserie Holdings said it was continuing to target 20 new store openings per year.
At the time, the business reported total revenue up 11% year on year to £55.5m and pre-tax profits up 15.7% to £9.7m. Revenue growth was driven by Patisserie Valerie – up 15.7% to £40.4m – with sales from other brands up 0.6%.
“All of our new openings are profitable from the first week of trading and are all funded from operating cash flows,” stated the company.
Patisserie Holdings has also revealed the extension of a trial to supply Sainsbury’s stores with Patisserie Valerie (PV) product. These goods are sold in-store from PV-branded counters at the same price they sell in the PV outlets.
Under the agreement, initially launched in April at 12 Sainsbury’s stores, handmade cakes and pastries, such as its individual slices and gateaux, are made and delivered by Patisserie Valerie in the morning and sold in the brand’s presentation boxes by Sainsbury’s.
Sainsbury’s said the partnership would give customers a wider choice of high-quality products at “great value and convenience”.
Patisserie Holdings told British Baker this week that the Sainsbury’s trial had been extended for 18 weeks and rolled out to an additional six stores in Harrogate, Fosse Park, Huntingdon, Tunbridge Wells, East Mayne and Welwyn Garden City.