David Wood Baking has been acquired by US investment firm Barings in a deal completed alongside managing director Karen Wood. The Leeds-based bakery business is now preparing for a brand refresh as it enters its “next phase” under new ownership.
The company employs more than 1,500 people and produces bread, savoury foods and ready meals at seven sites across the UK. Established in 2008, it supplies major retailers including Tesco, Asda, Sainsbury’s and the Co-op.
Barings, an alternative asset management company headquartered in North Carolina, will also provide lending support to David Wood Baking. LeumiUK will continue to participate as a financing partner.
With operations spanning 16 international markets, Barings also has a London office. The investment follows the appointment of Anthony Johnson-Magee and Kristina Kicks from Interpath as joint receivers over the shares of David Wood Baking UK Limited on 2 April 2026. The receivers are expected to leave their roles shortly now that the transaction has concluded.
The acquisition comes as manufacturers respond to changing food and beverage industry trends, including evolving food manufacturing trends, developments in food processing technology and shifting food distribution trends. Businesses are also adapting to new expectations around food and drink industry innovation, food and drink sustainability, food and drink regulations, food and drink packaging, food and drink marketing and food and drink consumer trends.
Karen Wood, who has led the company since autumn 2025 and has been associated with the group since its foundation, will remain managing director. She will work with the existing senior leadership team, including chief financial officer Bruce Korican and operations director Aaron Corbett, operations director.
Wood said: “Our business has continued to evolve over the past 20 years at the heart of the UK food industry, transforming into a leading supplier of quality food products.
“ Our upcoming rebrand will be another step in that journey as we continue to support some of the biggest names in retail, food manufacturing and foodservice.”
She continued: “Like the rest of the industry, we’ve had to navigate inflation and a fragile trading environment, so we’re proud to have supportive partners in Barings and LeumiUK with us as we build a more resilient business for the future.”
The change in ownership follows a difficult period for David Wood Baking. The business has experienced financial pressure and faced scrutiny over its health and safety record after several workplace incidents caused serious injuries, including an amputation.
Abhi Bothra, senior director of capital solutions at Barings, said: “We are delighted to partner with Karen Wood and the wider management team.
“The company is a well-established operator in the UK food manufacturing sector, supported by longstanding customer relationships, a resilient business model and a reputation for quality. We look forward to supporting the business as it embarks on its next phase of growth.”
