Bolt-on Acquisition for Mathiesons Bakery
Prestige Bakeries Limited, the holding company for Mathiesons Bakery, has recently acquired Anglo-Austrian Patisserie Limited (AAPL), the operations of which are to be merged into the Mathiesons Bakery business. This is a significant addition for Mathiesons and represents the next step in its expansion strategy. AAPL, with a turnover of over £6.5m, is based in South London and is a long established family business specialising in making high end cakes and patisserie for a number of national retailers. AAPL is an excellent strategic fit for Mathiesons and represents a natural extension of its existing business. This bolt-on is part of a long term plan to transform Mathiesons into a truly national supplier of craft bakery products of the highest quality and demonstrates Pemberton’s continued commitment to the Mathiesons business.