BPO, the investment entity linked to Ranjit Singh Boparan, the proprietor of 2 Sisters Food Group, finalized the purchase of Brace’s Bakery, located in Newport, late on Friday, June 5th.
Recognized as a leading bakery name in Wales, Brace’s was facing the grim prospects of administration and potential closure prior to securing this deal with BPO. The company had encountered significant challenges in recent months, largely due to a downturn affecting the wider industry, which led to the closure of their Blackwood facility.
In a troubling turn of events, employees only received half of their wages at the end of the last month, highlighting the company’s precarious situation.
The acquisition by BPO brings some much-needed reassurance to Brace’s workforce, as the jobs of the two hundred and fifty individuals at the Newport site are now preserved.
Boparan expressed his satisfaction with the deal, stating, “Brace’s is an iconic brand with a rich heritage, and we are delighted to have been able to reach an agreement to step in and preserve this business, while helping to take it into a new era through investment, innovation and modernisation.” He emphasized the importance of Brace’s longstanding connection to local communities and reiterated their commitment to the bakery’s ongoing success. “Our focus is on providing the backing and stability the business needs to move forward and build a sustainable future while maintaining the identity and quality that customers trust.”
Additionally, he noted the potential for substantial investment in innovation across various areas, including product development, manufacturing processes, customer service, and market strategies, ensuring that Brace’s continues to be competitive and relevant while upholding the values that have fueled its success. “With continued support and collaboration, we are confident that together we can secure a sustainable future for Brace’s Bakery and create a genuine Welsh business success story for generations to come.”
Founded in 1902, Brace’s Bakery has developed into a fourth-generation family enterprise that boasts a reputable history of providing bread and bakery goods to supermarkets and retailers throughout the UK.
This acquisition aligns with BPO’s recent efforts, including their purchase of Roberts Bakery in Cheshire, which also transitioned away from administration last October.
BPO’s operations cover a diverse range of sectors, including agriculture, property, food manufacturing, and hospitality, employing over twenty-five thousand individuals and generating revenues exceeding £4 billion.
Mark Brace, Managing Director of Brace’s Bakery, remarked, “This is an important step for Brace’s Bakery, and my brother and fellow director, Jonathan, and I are both delighted that Boparan Private Office has stepped in to give the brand the opportunity to build on almost one hundred and twenty-five years of baking heritage as we move into a new era.” He further emphasized that BPO recognizes the significance of Brace’s brand, its dedicated team, and the communities they serve, stating, “Their support provides a clear path forward for the business, allowing us to focus on strengthening Brace’s operations and continuing to deliver the quality products our customers expect.”
