Symington’s – which recently was the subject of a management buyout – acquired the Lancashire based Victoria Foods for an undisclosed sum.
David Salkeld, ceo at Symington’s said: “The Victoria Foods acquisition is a positive step forward in strengthening our position in the home baking category and we welcome Dan Ross to the team at Symington’s.
“Our two companies have a proven track record of success in this growing category and working together we are very well placed to continue to surprise and delight our consumers who enjoy baking at home.”
The acquisition further strengthens Symington’s position in the home baking category and complemented its existing portfolio of brands which included James Martin and Aunt Bessie’s. Symington’s range also included: Ragu, Chicken Tonight, Campbell’s and Ainsley Harriott.
Victoria Foods produces cake and baking mixes, including mixes for desserts and beverages. Its portfolio ranges from own-label brands, creations featuring favourite children’s characters, and mixes in association with leading brands including Jane Asher, Nestlé and Weightwatchers.
Home baking category
Dan Ross, md Victoria Foods said: “Victoria Foods has performed consistently since its inception 30 years ago and we are looking forward to helping grow the business, under the Symington’s name to further develop the home baking category as a whole. It’s exciting times ahead.”
A business plan is currently being developed to maximise the combined assets and skills of the two businesses and to establish how to best work together going forwards.”
Symington’s – which has sites in Leeds and Bradford, and employs about 600 people – reported annual turnover of £125M for the year to the end of February 2012, with £174M forecast for the year ahead.
To read more about Symington’s management buy out, click here .
The UK home baking market has experienced strong sales growth in the past five years. Mintel estimate the market to be worth £576M.