Sector News

Finsbury Food to acquire Johnstone’s Just Desserts

May 6, 2015
Food & Drink
(StockMarketWire.com) – Finsbury Food Group has announced the proposed acquisition of the business, production assets, stock and customer list of Johnstone’s Just Desserts Ltd from administrators FRP Advisory. 
 
Johnstone’s, a supplier to the leading national coffee shop chains, produces cake, including its renowned caramel shortcake. Unaudited turnover for 2014 was £9m. 
 
Finsbury says this proposed acquisition signals the escalation of its entry into the foodservice cake channel and in particular the high growth national coffee shop segment. This is in line with the group’s channel diversification strategy, indicated at the recent acquisition of Fletcher’s in 2014. 
 
Completion of the acquisition is conditional on the finalisation of property lease details which both the Group and FRP are working on to complete as soon as possible. Finsbury will provide staff in relation to manufacturing and finance, to serve the purpose of ensuring a smooth integration process until completion 
 
Finsbury intends to work with the Johnstones management team at its existing site in East Kilbride to build on its strong customer relationships and market position and drive growth focusing on its high quality, well respected, coffee shop product ranges. All 150 employees will remain with the company.

comments closed

Related News

May 27, 2023

Adventure and novelty identified as 2023 flavor trends

Food & Drink

Kerry’s 2023 flavor insights report reveals the latest foodservice flavor trends consumers are seeking, including new combinations of traditional tastes, indulgence, and younger consumers seeking unconventional mashups of food and beverages they grew up with in combination with emerging flavors from other regions.

May 27, 2023

Nestle names new head of operations

Food & Drink

Stephanie Pullings Hart has been named deputy head of operations at Nestle SA, effective July 1. She will succeed Magdi Batato, who is set to retire after a 30-plus-year career at Nestle. Ms. Pullings Hart is currently senior vice president of operations at Warby Parker, where she is responsible for manufacturing, supply chain and customer experience.

May 27, 2023

Givaudan harnesses AI to develop “futurescaping platform” to forecast future food

Food & Drink

Customer Foresight can identify early indications about impending future shifts that will impact the food and beverage industry. According to Givaudan, it is designed to support customers in understanding, planning for and addressing disruptive changes in consumer desires, guiding strategic planning, and leading to co-creation opportunities.

How can we help you?

We're easy to reach