LONDON (Alliance News) - Bakkavor Group PLC on Thursday said it entered into an agreement to acquired UK dessert business Blueberry Foods from Samworth Brothers Ltd.
The FTSE 250-listed provider of fresh prepared foods said the acquisition, for which no financial details were disclosed, is a "strong strategic fit" which will strengthen the company's dessert offer and bring operational synergies.
The acquisition is expected to complete by mid-June and will be funded from existing facilities.
Blueberry operates from a custom-built facility in Leicestershire with approximately 420 employees and produces a range of desserts for the UK's leading grocery retailers.
In 2018, Blueberry revenue amounted to GBP42 million and the business made a loss before interest, taxes, depreciation and amortisation of GBP1.0 million.
Bakkavor Group shares were trading up 1.1% at 127.40 pence each.
Bakkavor (BAKK)