UK: Samworth Brothers puts Soreen brand up for sale

Samworth Brothers, a leading UK supplier of chilled and ambient foods, is seeking a buyer for its Soreen cakes business, according to reports in Grocery Gazette and The Grocer.

Founded in Manchester in the 1930s, Soreen is especially known for its flagship malt loaf, which is marketed as a low fat option with 43% sugar than the average. More recently, the Soreen portfolio has expanded to include banana and toffee loaves, as well as cake bars marketed under the Lunchbox Loaves and Lift Bar brands.

The company is said to be working with financial adviser Spayne Lindsay to divest the brand, which could reportedly be worth as much as £75 million ($95 million). According to sources, the Soreen business generated £41 million ($52 million) in 2023, up 13% on the previous year.

Source: Grocery Gazette / The Grocer / Samworth Brothers