This is its first strategic acquisition since becoming a standalone bakery products manufacturer.
The company, which is a €400m European bakery products manufacturer headquartered in the UK, was formally launched in April 2021, following the separation of CSM Bakery Solutions.
Baker & Baker has acquired the order book, all equipment and machinery, and has assumed full responsibility for the personnel as part of the deal. No price was disclosed for the deal.
Peipen, which is based in Peniche, just to the north of Lisbon, is a leading producer of authentic, largely handcrafted Pastel de Nata, a traditional Portuguese pastry, filled with egg custard tart.
Peipen has been a direct supplier to Baker & Baker for a number of years, and this acquisition brings production in-house, facilitating further capacity for Pastel de Nata growth whilst providing space for expansion through the installation of additional sweet bakery lines, the company said.
The Peniche site employs around 60 people, and all employees have been transferred to Baker & Baker from the start of September.
Baker & Baker said its Pastel de Nata portfolio has delivered strong annual sales, and the business anticipates further growth and customer listings following the acquisition of Peipen’s operations.
The Peniche site is a high quality, modern bakery manufacturing facility, with the food safety certifications IFS and FDA, originally owned by Unilever, and with a total footprint of around 5,000m². It currently produces around 1,000 tonnes a year, and there is scope for Baker & Baker to introduce additional product lines and equipment.
The site currently manufacturers other, non-bakery product lines, which will be discontinued by the end of 2022, and this will further facilitate additional capacity as the site becomes fully focused on speciality bakery products.
The Peniche site is the third manufacturing location operated by Baker & Baker in Portugal, in addition to Santo Tirso and Sāo Joāo da Talha, and follows long-term organic growth in the Iberian region.
John Lindsay, European ceo at Baker & Baker, said “We’re thrilled to have concluded the acquisition of Peipen. It’s a strong business that has supported us as a supplier for many years
“The facility complements our existing portfolio by adding an attractive, core bakery line and supports our move towards developing our speciality laminated business in our growing Iberian market and quickly adds much needed capacity.”
Baker & Baker is supplier of bakery product in donut, muffin, brownie, cookie, cake, specialty bread, and viennoiserie categories. It serves customers in the retail, food service and the artisan channels under a portfolio of trusted brands including Baker & Baker American Bakery, Goldfrost, Concadoro, Molco, as well as licensing brand agreements with Mondelez and Disney, and partnering with major key accounts on private label.