UK-based bakery business, Dean’s of Huntly, has successfully acquired fellow Scottish shortbread manufacturer, Duncan’s of Deeside.
In a recent LinkedIn announcement, Dean’s emphasized that this acquisition aims to bolster its market presence in the premium shortbread sector while leveraging the combined business expertise and synergies. The details of the financial transaction remain undisclosed.
Paul Duncan, co-owner and Managing Director of Duncan’s, will remain with the integrated company to facilitate its next growth phase, according to Dean’s.
“We are very excited to work with the Dean’s of Huntly team to deliver the next exciting phase of growth for the combined businesses,” stated Mr. Duncan.
Bill Dean, Managing Director of Dean’s, expressed that acquiring this “well-established, high-quality business” complements the company’s recent organic growth achievements.
“By coming together, we are creating a stronger, more innovative business that is better equipped for the future – and one that adds even more value for our valued employees and customers.”
Founded in 1975, Dean’s is located in Huntly, Aberdeenshire, Scotland. The company specializes in manufacturing shortbread, biscuits, and savory cheese bites, including gluten-free and plant-based options. As of now, Dean’s employs 130 people.
According to the latest accounts submitted to Companies House, Dean’s reported a turnover of £8.3 million for the 12 months ending June 2023, down from £10.3 million the previous year. During this period, the company experienced an operating loss of £356,337, compared to an operating profit of £192,239 in the previous year. Additionally, the group faced a loss for the year amounting to £343,671, contrasting with a profit of £91,153 reported in the corresponding period.
Duncan’s, known for its shortbread and oatcakes, originally operated out of Laurencekirk. The company’s products are distributed across the UK and internationally, including markets in Australia.
