Almondy acquired by Danish group, Givesco Bakery
Swedish bakery Almondy has been acquired by Danish group Givesco Bakery in a move that is expected to strengthen the position of both businesses.
Givesco Bakery is a family-owned company which has been manufacturing baked goods, chocolate and confectionery since 1931. In that time it has expanded its customer base beyond Denmark to include international markets, and it now owns several bakeries across Europe. Almondy, meanwhile, produces over 70,000 frozen cakes per day at its dedicated gluten-free bakery in Gothenburg, Sweden, and exports to 53 countries, including the UK – which has become its most successful out-of-home market.
The acquisition provides strategic benefits for both parties. Givesco Bakery will gain a stronger foothold not just in Nordic countries, but also in many others across Europe where Almondy is active, providing an opportunity for the Danish bakery to extend into new markets. It also adds a state-of-the-art bakery plant to the Givesco portfolio along with Almondy’s unique range of gluten-free cakes.
Speaking about the acquisition, Kenneth Eskildsen, CEO at Givesco Bakery said: “The acquisition of Almondy is strategically important to us. The corporation complements our other businesses in a good way, thanks to its strong position in the Nordic countries and with its unique concept, which is just right in time. In addition to this, Almondy has many valuable partners who we will continue to develop businesses with.
With this acquisition we are adding an entrepreneurial driven company, with a totally unique concept and a first class bakery plant, to our portfolio.”
For Almondy, meanwhile, the acquisition will provide future investment, enabling the brand to innovate faster, address new market opportunities both at home in Sweden and around the world, and develop new products.
Andrew Ely, Almondy Managing Director, welcomes the change of ownership and comments: “Givesco Bakery shares our strong foodservice focus and our passion for baking, so we are delighted to be part of its business.
“Givesco Bakery has historically made long-term investments and has successfully developed its many business entities. Its clear strategy is to develop Almondy further and so with its expertise we look forward to being able to expand the Almondy brand into new markets while also extending our product offering.”
Almondy is currently celebrating ten years of serving the UK foodservice sector where it boasts the largest range of gluten-free frozen cakes and sells 1.6 million portions every year.
It is best known for its classic almond cakes which feature exclusive toppings from superbrand Cadbury and confectionery favourites Toblerone and Daim.
To find out more about Almondy please call 01604 858 522 or visit www.almondy.com/en