THE UK subsidiary of Rich Products Corporation, the American family-owned frozen food manufacturer, has bought leading independent bakery David Powell Bakeries Ltd.
The deal will see the Hartlebury-based firm take over the complete David Powell operation, boosting its annual UK turnover to more than £20m and extending its product range to include muffins, shortbreads, cinnabuns, speciality breads and other niche sweet and savoury bakery products.
David Powell is an award- winning business and a leading innovator in the UK bakery market. Its client list includes a number of high profile coffee chains and well-known retail outlets. George Thomopoulos, Rich's president of Europe, said: "Rich has ambitious plans for the UK and this acquisition represents both a significant investment and an exciting opportunity to further penetrate the domestic market".
"David Powell Bakeries has an enviable quality product which complements our own range. We aim to strengthen our position as leaders in the market and at the same time ensure that we remain the trusted first-choice supplier for our customers."
David Powell Bakeries Ltd was established in 1991, in Fareham, Hampshire. In the beginning it supplied bread to Waitrose before it expanded to confectionery including a range of Muffins.
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