Finsbury Food Group bought confectionery maker Lees Foods Ltd. for GBP 5.7 million. Clive Miquel, who led the GBP 5.6 m management buy-out of Lees in 2012, is said to retire after selling the business to its former rival, which he considers to be in a position to offer better growth opportunities for Lees Foods, according to reports in the local media. A spokesman for Finsbury announced that the company plans to continue investing in the Coatbridge site and its people.
Lees Foods was founded in 1931 and employs over 200 people at its site in North Lanarkshire. They will join Finsbury’s staff of around 3,000 people working at the group’s facilities in the UK, France and Poland.
“We are delighted to announce the strategic acquisition of Lees Foods Limited, as we consolidate our position in the sweet treats sector and grow our manufacturing presence in Scotland,” Scotland’s The Herald quotes Finsbury chief executive John Duffy.
Photo: Lees Foods social media