Abf Ups Stake In Uk-based Ready-meals Business Cook

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Associated British Foods (ABF) has accrued its holding successful UK-based ready-meals business Cook.

Cook confirmed via a connection that ABF took a number liking successful Cook successful 2020 and has now raised that shareholding, though nan London-listed institution still remains a number investor.

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ABF, which is looking to grow successful nan UK bakery sector pinch nan acquisition of Hovis, besides acknowledged nan transaction successful a little connection to Just Food coming (15 October) but nan size of nan liking has not been disclosed.

However, a filing pinch Companies House successful London said nan liking was much than 25% but little than 50%.

The Hovis woody was carried retired done ABF’s Allied Bakeries division, nan proprietor of nan Kingsmill and Sunblest breadstuff brands.

Sarah Arrowsmith, nan CEO of Allied Milling & Baking and who is besides a committee head astatine Cook, said: “Cook is simply a very awesome business and it’s been a pleasance to person worked pinch nan squad location since our first finance successful 2020.

“I’m delighted that we’re strengthening our narration pinch them, and I look guardant to their continued success.”

Cook was group up successful 1997 by Edward Perry and Dale Penfold. Based successful Sittingbourne, Kent, it supplies a scope of stiff fresh meals and puddings produced successful its 3 kitchens.

It sells into independent retailers and online and besides offers a transportation service. Cook besides operates much than 100 shops.

A spokesperson for Cook confirmed nan products are not disposable successful supermarkets. Outside of British meals, nan scope includes Indian, Thai and Mediterranean foods, on pinch free-from, vegan and vegetarian options.

In nan twelvemonth to 31 March 2024, Cook generated a turnover of £119.7m ($160.3m), an summation of 13.2% from nan erstwhile 12 months.

However, nan accounts revenge pinch Companies House showed operating profit fell 15.5% to £3.8m, while nett profit slid 47% to £1.9m.

Cook said successful nan connection confirming nan ABF transaction: “Since inception, Cook has ever been controlled by nan Perry family, on pinch a mini group of co-founders and extracurricular investors who are aligned pinch our values and our ngo to usage business arsenic a unit for good.

“We were delighted erstwhile ABF joined that group successful 2020, since past they person been consistently supportive of some nan ngo of nan institution and nan semipermanent power of nan Perry family. We are truthful pleased that they person further strengthened their number stake.”