The move was carried out in partnership with managing director Karen Wood, and the baking firm will now undergo a brand refresh as part of its “next phase” under new ownership.
Operating from Leeds, Yorkshire, David Wood Baking currently employs more than 1,500 people and manufactures bread, savoury products and ready meals across seven UK sites.
Founded in 2008, the firm supplies baked goods and food products to some of the UK’s largest retailers, including Tesco, Asda, Sainsbury’s and the Co-op.
As part of the transaction, the North Carolina-based alternative asset management firm will also support David Wood Baking as a lender, alongside LeumiUK.
The business operates across 16 markets internationally, and maintains an office in London.
The deal follows the appointment of Anthony Johnson-Magee and Kristina Kicks of Interpath as joint receivers over the shares of David Wood Baking UK Limited on 2 April 2026.
Following completion, it is anticipated that the joint receivers will shortly be discharged from office.
Managing director Karen Wood, who has led the business since autumn 2025 and has been involved with the group since its establishment, will continue to lead the company alongside an executive team including Bruce Korican, chief financial officer, and 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 buyout comes amid a turbulent few years for David Wood Baking, which has faced financial challenges and scrutiny over health and safety performance, following a number of workplace incidents that resulted in serious employee injuries, including an amputation.
Abhi Bothra, senior director of capital solutions at Barings, added: “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.”
