Samworth Brothers acquires West Cornwall Pasty Co
The West Cornwall Pasty Co has been successfully sold to Samworth Brothers for an undisclosed sum.
The deal includes the West Cornwall Pasty Co’s 33 wholly-owned outlets in UK rail stations and high street locations, alongside a further 19 franchised outlets in Moto service stations and the company’s head office and distribution centre in Buckinghamshire.
“We are delighted to be able to bring the West Cornwall Pasty Co into the Samworth Brothers family of companies,” said Richard Armitage, chief financial officer of Samworth Brothers, which also owns Ginsters.
“We are able to offer many opportunities for the future growth of the business and an exciting future for our new colleagues.”
Samworth Brothers’ group chief executive Alex Knight added: “Samworth Brothers already has a considerable experience and presence in both the food-to-go and savoury pastry market through our existing brands and own-label operations. We see the hot food-to-go sector as one area of real opportunity. This acquisition provides a great extension to our food-to-go capabilities and gives us another outstanding platform to develop our offer in this area.”
The West Cornwall Pasty Co was purchased from private equity investor Endless LLP, after it took over the business in 2014. It was the first company purchased from the firm’s Enact fund. Chris Peck, executive chairman at the West Cornwall Pasty Co, said that the potential of the brand was recognised despite it “losing its way”.
“With Enact and Endless’ backing we have been able to establish the brand as one of the ‘best in class’, serving the travel, leisure and sports markets, and have positioned the business to exploit a very exciting growth plan over the next three years,” he said.
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