Hovis CEO Jon Jenkins is stepping down after three impactful years at the helm of this prominent UK bakery.
Jenkins’ departure comes in the wake of the August announcement confirming that Associated British Foods (ABF)—the owner of Kingsmill and Sunblest brands through its Allied Bakeries segment—has acquired Hovis from private equity firm Endless.
Hovis has announced that Jenkins will officially step down from his role as CEO in “mid-September”.
Aidan Robson, a managing partner at Endless, expressed gratitude, stating: “I would like to thank Jon for his support and leadership over the last three years.”
He added, “Jon has successfully guided Hovis through an unprecedented period marked by raw material inflation while enhancing the beloved Hovis product range and brand. We extend our best wishes to him as he departs.”
In a statement, Hovis confirmed that “the executive board will continue to provide strategic direction” to ensure that “retailers and consumers receive the exceptional service and high-quality products they expect.”
After joining the company in 2022, Jenkins transitioned from a senior executive position at ABF. He noted, “I thoroughly enjoyed my time at Hovis and am grateful to our incredible colleagues across our bakeries, milling operations, and distribution centers for their dedication and support over the last three years.”
Jenkins continued, “I take pride in our achievements and eagerly anticipate the continued success of the business.”
When announcing the acquisition of Hovis, ABF CEO George Weston remarked that this integration with Allied Bakeries would “forge a UK bakery business that is both profitable and sustainable in the long run.”
Furthermore, he stated: “Investing in the Hovis and Kingsmill brands with efficient operations will pave the way for innovation and growth.”
He emphasized, “This strategy will deliver shareholder value, offer consumers greater choices, and enhance efficiency for customers.”
Endless originally acquired Hovis in 2020, although the financial specifics of the recent transaction with ABF remain undisclosed. This deal is pending approval from the UK’s Competition and Markets Authority (CMA).
While ABF does not disclose the specific financial performance of Allied Bakeries, the overall group results for the 24 weeks ending on 1 March indicated a 2% decrease in sales to £9.51 billion ($12.94 billion). Adjusted operating profit fell 12% to £835 million, and profit before tax decreased by 21% to £692 million.
Upon confirming the acquisition last month, Robson mentioned, “The deal with ABF offers an opportunity to establish a foundation for long-term sustainability in the bakery sector, benefiting both retailers and consumers.”
He concluded, “As we work towards achieving CMA clearance for the transaction, our focus remains on Hovis to continuously deliver superior products and service to our customers.”
