David Wood cooks up Dudley bakery buy
Dudley-based BRC Grade A Bakery has been acquired by David Wood Baking. Managing director David Wood secured backing from Yorkshire Bank to make the purchase and now aims to achieve turnover of £30m after two years in business.
The Leeds-based company acquired the freehold property and equipment in Dudley from former owner Apetito.
The deal was backed by Yorkshire Bank’s Leeds Financial Solutions Centre.
The factory is the third acquired by DW Baking, owned by Wood and his wife, Karen.
The business acquired Medway Foods’ savoury pastry production site at Sheerness two years ago and Peter Hunt’s Bakery, Bolton, soon after.
David Wood, a former director and 50 per cent owner of Leeds-based Country Style Foods before he sold his interest to other shareholders, said: "All our three new acquisitions had closed after declining performance due to hectic price fluctuations in commodities such as flour, fat and meat and other strategic issues.
"In spite of the tough economic climate, we have restarted them and have taken on 300 of the 600 people previously employed at Sheerness and Bolton, producing traditional British savouries such as sausage rolls, pies, pasties and slices which are sold frozen to convenience retailers such as petrol station forecourts, to be baked and sold hot at point of sale."
