Lantmännen Unibake, a leading European supplier of frozen bread products, has announced its third, and to date largest, acquisition of 2008 with the purchase of Eurobuns, a leading bakery just outside London. The acquisition will give Lantmännen Unibake production capability in the UK for the first time. It will also open the door to the frozen bread market in the UK, on which Eurobuns has a solid position and currently controls around 50 percent in the fast food segment. “The British market is very promising. Thanks to our successful partnership with Bakehouse, Great Britain is today our third largest market for Danish pastry. The acquisition of Eurobuns will make Great Britain our largest market by far,” says Bent Pultz Larsen, CEO of Lantmännen Unibake.
Eurobuns is a modern bakery with seven high-tech bakery lines. The successful bakery in Milton Keynes has experienced continuous growth since its foundation in 1997. Eurobuns has forecast net sales of £46 million for the current financial year and employs more than 400 people. Besides fast food bread, Eurobuns has a large production of baguettes, modern sandwich products, scones and donuts for the food service and retail sectors in Great Britain.
“The management team at Eurobuns is confident that this acquisition will be good for the company and with the support of Lantmännen, looks forward to the next exciting stage of growth and development,” says Martin Jones, Sales and Marketing Director of Eurobuns.
This is the third acquisition since January for Lantmännen Unibake, which is in the midst of an ambitious global growth plan. In February, Lantmännen Unibake acquired Baco Oy, the largest fast food bakery in Finland, as a step toward expanding its market share in the Baltics and Russia. In April, the company acquired its first production bakery in the United States with the purchase of Euro-Bake, a 200-person bakery specialising in European inspired bread types.
“The consolidation in the bakery business is running full speed right now and we intend to maintain our position as the largest frozen-bread bakery in Europe,” says Bent Pultz Larsen, who does not rule out more acquisitions in the near future.
Including the Eurobuns facilities, Lantmännen Unibake now has 100 bakery lines at 31 bakeries in ten countries. The Group employs almost 5,000 people and has an annual turnover of £ 744 million.
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