Mazars helps bakery rise again
The Birmingham office of accountant Mazars has advised the sale of a Warburtons bakery site in Newport. Crumlin-based Brace’s Bakery has now purchased the factory, securing the future of the employees currently working there.
Lancashire bakery Warburtons had announced late last year that it was considering selling the South Wales site.
Brace's already has two existing plants at Croespenmaen, which specialises in producing bread and Welsh cakes and Pen-y-Fan, where 6,000 loaves are produced every hour.
Andrew Millington, corporate finance partner at Mazars in Birmingham, was part of a team from the firm’s Midlands and South regions which advised Brace’s on the acquisition.
He said: “We were very pleased to advise on a deal in which so many jobs were saved. It provides Brace’s with the additional capacity it has been looking for to meet demand from customers. We hope Brace’s continues to go from strength to strength.”
Brace’s legal adviser was Morgan Cole and banking support was with HSBC. Warburtons’ legal adviser was Eversheds.
Before the acquisition of the Warburtons’ site, Brace’s employed more than 300 staff.
Brace's depots operate from Crumlin, Ammanford, Bristol and Plymouth.
