(RTTNews) – Real Good Food Plc., a diversified food business, Wednesday announced that its unit Haydens Bakery Ltd acquired Chantilly Patisserie for a total consideration of 1.75 million pounds. Chantilly Patisserie will be run as a trading division of Haydens.
The cash consideration will be satisfied from existing cash resources.
Paignton, Devon -based Chantilly Patisserie employs some 40 staff, and produces high quality, hand-made frozen desserts. For the 9 months ending December 2015, the business had turnover of 2.2 million pounds and EBITDA of 0.4 million pounds and was debt free.
Pieter Totté, Executive Chairman said, “We will continue to identify and complete bolt-on acquisitions as we seek to reach greater scale within our three pillar markets of cake decoration, food ingredients and in this case premium bakery.”
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The acquisition significantly broadens Cargill’s offerings in the decorations space, enabling the company’s cocoa and chocolate business to better serve gourmet customers in Europe and worldwide.