Lotus Bakeries announced the complete acquisition of UK based Peter’s Yard artisanal sourdough business.
Peter’s Yard produces a wide range of healthy crackers, crispbreads and flatbreads, and sourdough bites.
Lotus Bakeries is well-known for the natural snack category and brands like Lotus, Kiddylicious, BEAR snacks, among others. Lotus Bakeries has been an investor in Peter’s Yard since July 2019, when the firm acquired 20% of the business.
Lotus Bakeries said Peter’s Yard has been growing significantly over the last three years, doubling sales in the UK.
In a joint statement, Tencor and Wilson-Bett, Peter’s Yard managing directors, said the “partnership” with Lotus Bakeries had “enabled us to grow faster. Our focus was always on finding a long-term partner for the brand, which convinces us that Peter’s Yard has now found an excellent home within the Lotus Bakeries group brand portfolio”.
Isabelle Maes, CEO of Lotus Bakeries’ natural foods division, said: “With the addition of Peter’s Yard’s delicious sourdough products to the Lotus Bakeries family, we further strengthen our position in the UK and venture our first steps into the savoury snacking category”.
The transaction is expected to close on the 1st July 2022.
Sources: Lotus Bakeries