Peterborough-based employer Baker Perkins is sold to overseas company

Long-established suppliers of food processing equipment for the food industry, Baker Perkins, based in Manor Drive, has been acquired by the German multi-national company, Schenck Process Group (SPG).

The move is expected to bring more investment in Baker Perkins and to pave the way for its continuing growth.

Dan Bassett, managing director of Baker Perkins UK, said: ‘We’ve been looking for a long-term partner that is prepared to invest in the company and continue its development for many years to come.

He added: “Already we can see significant opportunities for growth, and I’m excited at the prospect of working together.”

The amount paid in the sale deal has not been disclosed.

A spokesperson for SPG said the acquisition would bring enhanced distribution and service as well as a new product range to support future growth.

He said SPG was fully committed to the existing facilities in Peterborough and its operations in Grand Rapids, Michigan.

Baker Perkins will continue to be run by the existing management teams in the UK and USA.

He said the acquisition marked a continuation of SPG’s focus to extend its global offering for the food markets.

The move strengthens SPG’s European capabilities in the food processing and equipment sector, as well as broadening the Group’s product offering in the Americas, while providing opportunities for growth across the Asia Pacific region.

The sale was overseen by accountancy and business advisory firm, BDO LLP, which advised the shareholder of Baker Perkins.

The deal was signed on 16 October and was subject to regulatory approval which was granted on November 13.

Roger Buckley, M&A partner at BDO, said: “We are delighted to have found a strategic international buyer for Baker Perkins.

“The quality of Baker Perkins is reflected in the nature of the deal and the stature of the buyer. SPG is a world leader, with significant financial backing from US investment giant, Blackstone.”

Baker Perkins relocated to Peterborough from London in 1903 and provided manufacturing and process services for the food industry throughout the world.