Food investment company Olidor Group has acquired a majority stake in baked treats supplier Four Anjels.
Financial terms of the transaction have not been disclosed.
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In a statement, Olidor said the deal will enable it to “expand its product offering”,
“open new opportunities” for product development, deliver “increased production capabilities” and a “broader market reach”.
Founded in 2010, Four Anjels specialises in bespoke cakes, traybakes, and biscuits, including gluten-free and vegan options.
The Cheltenham-based company operates a factory in Furlong Park, Bishops Cleeve and caters to food service and retail sectors.
Four Angels supplies private label products to food, drink, and gifting brands including Pret, Itsu, and Daylesford.
Andrew Ashby, CEO of Olidor Group, described the acquisition as an “exciting milestone for both companies”, adding: “By joining forces, we can leverage our collective strengths to drive continued innovation, ultimately benefitting our customers and strengthening our position in the market.”
Four Anjels will maintain its operations as a standalone business, while benefiting from Olidor’s “extensive resources and capabilities”.
Andrea Stevens, managing director of Four Anjels, said Olidor’s “dedication to quality and innovation is something that aligns deeply with our values, and we look forward to working together and leveraging the capabilities within the group to deliver even more exciting, sustainable, and innovative products for our customers”.
Olidor’s portfolio includes a range of speciality food businesses such as Brusco Food Group, The Original Baker and The Artful Baker.
For the full year 2023, Olidor reported a 79% increase in turnover, reaching £23.7m ($31.38m).
The group posted a gross profit of £5.3m, marking a 171.6% increase compared to 2022.
Operating profit climbed 26.6% to £876,541.
