Morrisons, a UK retail giant, is reportedly considering selling its Rathbones bakery unit in West Yorkshire as part of efforts to reduce debt levels. According to reports, the supermarket has enlisted financial advisors from Deloitte to facilitate the sale of the site in Wakefield.
Potential buyers for the Rathbones bakery unit include private-equity group Endless, which acquired bread maker Hovis in 2020. However, Morrisons has not confirmed any decisions regarding the sale, stating that they are approached by prospective buyers regularly.
The 28,000-square-foot Rathbones factory produces a variety of baked goods, including naans, crumpets, pancakes, hot cross buns, and more, which are distributed nationwide in Morrisons supermarkets. The factory employs around 400 workers, and it remains uncertain how a potential sale would impact the workforce.
Morrisons purchased a portion of the Rathbones group in 2005, rescuing it from administration. In 2012, the retailer announced the closure of the group’s Wigan site in favor of expanding the Wakefield facility.
Endless, the potential buyer, did not respond to requests for comments at the time of writing. It is worth noting that the decision to sell the Rathbones bakery unit aligns with Morrisons’ strategy to streamline operations and improve financial health.
