Bakery manufacturer Finsbury Food Group has acquired Scottish meringues and snowballs maker Lees Foods for £5.7m.
Established in 1931, Lees employs more than 200 staff at its site in Coatbridge, Scotland.
The move is in line with Finsbury’s strategy to diversify its product capability into areas with high growth potential, aiming to capitalise on Lees’ broad customer base and strong supply relationships with leading UK supermarkets and foodservice providers.
John Duffy, Chief Executive of Finsbury Food Group Plc, commented: “We are delighted to announce the strategic acquisition of Lees Foods Limited, as we consolidate our position in the sweet treats sector and grow our manufacturing presence in Scotland.
“Lees currently has a well-established position in the UK meringue category and strong relationships across a high quality and diverse customer base.
“This provides Finsbury with the opportunity to build upon both businesses’ existing retail relationships and unlock further commercial opportunities, including out of home. We look forward to welcoming Lees to the wider Group.”