"we continue to see strong growth opportunities"
The billionaire Issa brothers have acquired another deal in their evergrowing business empire, purchasing one of the UK’s biggest bakeries.
The EG Group, founded by brothers Mohsin and Zuber Issa, has acquired Cooplands, which employs more than 1,600 people.
Cooplands was founded in 1885 by Frederick and Alice Coopland.
It has gone on to become the second-largest bakery in the UK.
CS Food Group Holdings is behind Cooplands and owns three bakeries that process ingredients and manufacture fresh food.
Through its supply and logistics network, this is then distributed to approximately 180 stores and cafes. These are mainly in the North East and Yorkshire.
In a joint statement, Mohsin and Zuber said:
“We are very pleased to welcome Cooplands’ many talented colleagues to the EG Group family.
“Cooplands has a proven track record in the fresh bakery sector and vertical integration with EG Group will help to further drive our success in foodservice, where we continue to see strong growth opportunities in the UK and globally.
“Following the acquisition of LEON in May, Cooplands is another fantastic fresh food brand to add to EG Group’s existing portfolio of third-party foodservice brands.
“The transaction will broaden the reach of Cooplands beyond the brand’s northern heartlands and bring its much-loved food to more existing and new customers through EG Group’s unparalleled network of roadside forecourts and retail convenience stores.
“We know that Cooplands’ impressive bakery platform and our foodservice expertise will be a winning combination.”
An EG Group statement said: “The acquisition will accelerate EG Group’s growing and successful diversification into foodservice and adds highly complementary assets that will drive development opportunities in other parts of the business.
“Today’s transaction will provide a platform to diversify the Cooplands brand into the transient petrol forecourt and retail convenience store channel, alongside the bakery chain’s traditional store formats, through EG Group’s extensive UK network.”
EG Group’s purchase of Cooplands as a proprietary brand follows the company’s acquisition of fast-food chain LEON in May 2021.
EG Group plans to invest in the Cooplands brand and fresh food offer, to help ensure it continues to please existing customers as well as attract new ones.
Belinda Youngs, CEO of Cooplands, said:
“Cooplands is proud to be joining EG Group and bringing our long history of skills and expertise in the bakery industry in both manufacturing and retail to the company.
“We are looking forward to a great future for the Cooplands brand.”
Loading ...