Grupo Bimbo acquired UK-based brioche specialist St. Pierre Groupe, the company behind Baker Street, Paul Hollywood and St. Pierre brands. The value of the transaction is undisclosed. St. Pierre has been in the business for almost 40 years. Its product ranges are now available in the UK, Europe, the US and the Middle East.
Investor BGF announced its exit from St. Pierre following its acquisition. BGF invested GBP 8 million in the Manchester-based company in 2018, which helped fuel its international growth. Over BGF’s four-year investment period, the business boomed particularly in the USA, which now accounts for 50% of its annual sales. The group has also grown its product range and secured listings with more retailers in the UK and the US, helping revenues grow from GBP 69 m in 2018 to GBP 111.5 m in 2021, BGF added in its announcement. In this time, the baker’s staff has more than doubled, and St. Pierre currently employs over 70 people.
Ahead of the acquisition news, the Mexican bakery group recently reported record sales for the third quarter of 2022. At MXN 102,821 million (around USD 5.16 billion), the company generated a sales increase of 20% compared to the same period in the previous year. The reasons are primarily a strong price/mix performance and increased sales. “The current inflationary environment has been a major challenge, but the resilience of our categories and the high demand for them enabled us to overcome it,” said CEO Daniel Servitje. Grupo Bimbo is represented in 33 countries in America, Europe, Asia and Africa. Major products include sliced bread, buns, cakes, cookies, bagels, flatbreads, and savory snacks.
Photo: St. Pierre Groupe