Wholesaler Bako buys out Finlay's Foods
Bakery food wholesaler Bako Group has acquired ingredient supplier James AS Finlay, better known as Finlay's Foods, for an undisclosed sum.
Bako posted on its Facebook page that the companies have already been collaborating for more than 20 years, so the partnership feels like a "natural evolution", adding: "This acquisition opens up exciting new markets for us, especially in Northern Ireland and beyond and their expertise in bakery products perfectly complements what we already provide."
Finlay's Food was founded in 1976 and is based in Craigavon, Northern Ireland. The business manufactures and supplies ingredients to the bakery and general food industry, with its customer base extending throughout Northern Ireland and into the Republic of Ireland, as well as the wider UK, Europe and Asia.
Meanwhile, Bako is celebrating its 60th anniversary this year as a key organisation within the UK bakery industry supply chain. It is owned by over 694 shareholders, all of whom are bakers.
The company provides independent bakers and caterers with a range of ingredients and finished products from suppliers, as well as its own Bako Select branded range, through its depots in Preston, Durham and Wimbledon, employing 312 people across all three sites.
Bako chief executive Mike Tully commented that the new acquisition offers significant growth opportunities, underlining: "Finlay's Foods has established a strong presence and loyal customer base, which we intend to build upon and expand.
"By integrating Finlay's Foods' product line with our own, we are able to diversify our offerings and enhance our competitive edge. Its expertise in bakery products complements our current portfolio and opens up a wide range of cross-selling opportunities."
Patrick Gracey, sales director of Finlay's Foods, believes that the move will benefit both companies and "will enable us to build on our customer focused approach, facilitating the delivery of more choice opportunities and benefits to our loyal customer base".
Image: Facebook
