Wed, 06 Jul 2011 | BUSINESS SALE
STB Holdings has put its Poundbakery business on the market in a bid to expand outwards beyond the North West of England.
Alaris Capital has been hired to seek a buyer for Poundbakery, with a purchase price above £10 million, while the owner “assesses its strategic options for growth.”
Chairman Sandy Birnie said, “There is ample capacity in the market to allow it to flourish. Our nearest competitor has over 1,300 shops.” Another 50 sites have been marked for opening in 2011/12, he continued.
More than 30 new Poundbakery shops have been opened in less than 12 months in areas including Liverpool, Preston, Bolton and Manchester. The bakeries sell budget products including two meat and vegetable pies for £1, fresh sandwiches for £1 and hot drinks for 50p to spend-conscious consumers.
Mark Kingston, M&A executive at Alaris said there has been plenty of interest from within the UK and abroad in the business sale. “The buyer has the potential to increase the rate of roll-out through additional funding,” he added.
STB Holdings' other bakery brand Sayers The Bakers, founded in 1912, also has its own 116-strong Sayers chain, with a main bakery, which supplies all the stores. Investment in the business is to continue.
STB Holdings bought Sayers and Poundbakery in a management buy-out deal from Lyndale Foods in 2009.
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