UK-based bakery business Dean’s of Huntly has acquired fellow Scottish shortbread company Duncan’s of Deeside.
In a statement on LinkedIn, Dean’s said it had bought Duncan’s to increase its market share in “premium shortbread” and to benefit from “the combined business’ expertise and synergies”.
The financial details of the deal were not disclosed.
Paul Duncan, the co-owner and managing director of Duncan’s, will stay with the combined business to “help deliver the next phase of growth”, Dean’s said.
“We are very excited to work with the Dean’s of Huntly team to deliver the next exciting phase of growth for the combined businesses,” Mr Duncan said.
Bill Dean, the managing director of Dean’s, said the acquisition of the “well-established, high-quality business” builds on the company’s recent organic growth.
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By GlobalData“By coming together, we are creating a stronger, more innovative business that is better equipped for the future – and one that adds even more value for our valued employees and customers.”
Just Food has contacted Dean’s for further details of the deal.
Dean’s, established in 1975 is based in Huntly in Aberdeenshire in north-east Scotland. The company manufactures shortbread, biscuits and savoury cheese bites. It also makes gluten-free and plant-based shortbread. According to its website, it currently employs 130 people.
According to accounts lodged with Companies House, the UK’s business register, Dean’s generated a turnover of £8.3m in the 12 months to the end of June 2023, compared to £10.3m a year earlier.
During the year, it made an operating loss of £356,337, versus an operating profit of £192,239 the year previous. The group reported a loss for the year of £343,671, against a profit of £91,153 in the corresponding 12 months.
Duncan’s makes shortbread and oatcakes. It was originally headquartered in Laurencekirk. The company’s products are available in the UK and abroad, including in Australia.
