Merseyside bakery achieves sweet £380m turnover following Oreo and Cadbury licensing
Baker & Baker has published strong financial results that underline an encouraging business outlook for the standalone European bakery products manufacturer.
The business reported turnover of €450m (approx. £380m) and growth of 14 per cent during the first 12 months of operation.
Following a significant business separation via the sale of CSM Ingredients in April 2021, Baker & Baker has consolidated its position as a “leading supplier” of sweet bakery products within the retail and food service segments across all key European markets.
Record growth in Baker & Baker’s licensing portfolio delivered a significant proportion of its 2021/2022 financial performance. Via its exclusive bakery partnership with Mondelez, Baker & Baker manufactures and sells a broad range of donuts, muffins, cookies and brownies under the iconic Oreo, Cadbury, Milka and Daim brand names.
The Mondelez licensing portfolio delivered record retail sales in excess of €100m (approx. £84m) in 2021, and continued consumer demand for indulgent bakery products with strong brand resonance is projected to deliver further growth in 2022.
In 2021, Baker & Baker opened an office in Dubai and appointed a senior sales team, headed up by Ryan Perera, to exploit new customer opportunities throughout the Middle East and North Africa. Later this year, Baker & Baker is also preparing to open its first office in Poland, to serve customers throughout other Eastern European markets.
CEO John Lindsay commented: “Our first year as Baker & Baker has been an incredible journey. Successfully completing a complex business separation during normal market conditions is challenging, but considering raw material inflation and the impact of COVID-19, we have demonstrated considerable resilience and agility to deliver an impressive financial performance.
“The expertise, commitment and hard work demonstrated by our colleagues during a turbulent period has also been critical in driving this growth. Our priorities for the forthcoming 12 months are to build on these solid foundations, with further investment in NPD and product extensions, growing our footprint in emerging markets and maximising the potential of our licensing range with Mondelez.”
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