French industrial bakery business Groupe Menissez has recently acquired UK-based Village Bakery from private-equity firm Limerston Capital. The financial details of the transaction were not disclosed.
Village Bakery is known for producing baked goods for various customers in the retail, hospitality, and foodservice sectors in the UK, including major retailers like Tesco, Sainsbury’s, The Co-op, and Marks and Spencer.
Limerston Capital, based in London, first invested in Village Bakery in 2021 and has since witnessed a period of significant investment and rapid growth. This growth included the establishment of a new 140,000-square-foot bakery at the company’s headquarters, leading to a nearly doubled staff count of over 900 employees.
Robin Jones, the CEO and co-owner of Village Bakery, expressed gratitude towards Limerston Capital for their contributions in the company’s growth. He mentioned, “We can all be very proud of our achievements over the past three years, the quality of the platform that we have built, and the exciting future for the business working with Groupe Menissez.”
Groupe Menissez, established in 1965 and based in Feignies, northern France, has an annual group sales turnover of approximately €600m ($650m). The company has expanded its partnerships with Boulart in Canada, Délice de France in the UK, Van Roy in the Netherlands, and Lemarié Patissier in France.
João Rosa, founding partner at Limerston Capital, expressed delight in exiting the investment in Village Bakery ahead of plan, following a phase of substantial investment, development, and rapid growth. He added, “We wish the team well and we are delighted that Groupe Menissez will be overseeing the company’s next phase of growth.”
In the fiscal year ending on 24 September 2023, Village Bakery reported a turnover of £98m ($126m), an increase from £69.1m in the previous year. The business also achieved an operating profit of £5.4m, a significant improvement from a loss of £150,000 the year before, with a net profit of £3.8m compared to a loss of £2.2m in 2022.
Groupe Menissez is set to lead Village Bakery into its next growth phase.
