Schenck Process Group to acquire Baker Perkins
Schenck Process Group (SPG) has made a deal to buy Baker Perkins, a global supplier of food processing equipment and aftermarket services for the bakery, confectionery, biscuit, cookie and cracker, breakfast cereal and pet food end markets.
Headquartered in Peterborough, United Kingdom, Baker Perkins serves customers across the food industry globally.
SPG, which develops and manufactures processing equipment, said the acquisition is a continuation of its strategic focus to extend its global offering for the food end markets.
The company said the news will strengthen European capabilities in the food processing and equipment sector, broaden its product offering in the Americas, and provide growth opportunities across the Asia–Pacific region.
“We will build upon the knowledge, experience and customer relationships of the Baker Perkins team to support future growth, whilst remaining fully committed to existing facilities in Peterborough and Grand Rapids, Michigan,” the company said.
Upon completion, the business will continue to be run by the existing managing directors as part of the SPG regional business structure.
SPG Chief Executive Keith Cochrane said he was delighted that the acquisition was made.
“This is a long-established business with a reputation for excellent products and customer service, with a similar business model to our own,” Cochrane said.
“It will complement and extend our existing product offering to the food end market, which is a key strategic focus, providing good opportunities for future growth, operating efficiency and further value creation for all stakeholders.”
Baker Perkins UK Managing Director Dan Bassett said the company has been looking for a long-term partner prepared to invest in the company and continue its development for many years to come.
“We can relate to the SPG culture that encourages local autonomy and entrepreneurship, which fits well with our independent mindset. Already we can see significant opportunities for growth, and I am excited at the prospect of working together,” Bassett said.
The transaction is expected to close in Q4 2020.
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