Gail’s owner Bread Holdings acquired by Bain Capital in £200m deal
RCP chairperson Luke Johnson will retain a shareholding, understood to be around 15%.
Bread Holdings, the parent company of the Gail’s Bakery chain and wholesale business The Bread Factory, has been acquired from Risk Capital Partners (RCP) by Bain Capital Credit, in partnership with hospitality fund EBITDA Investments, in a deal worth over £200 million.
RCP chairperson Luke Johnson will retain a shareholding, understood to be around 15%, and remain on the board following the sale.
EBITDA Investments is backed by entrepreneurs Henry McGovern and Steven K Winegar.
“Gail’s is a premier brand in the growing craft bakery market. Its ability to supply high quality, fresh bakery products, meals and drinks with a customer-focused culture drives GAIL’s strong brand following, like-for-like growth and expanding bakery network,” Sandro Patti, a director at Bain Capital Credit, said
RCP first backed Bread Holdings’ management team, led by co-founder and chief executive Tom Molnar, in 2011 when the group had about £25 million in yearly sales. The company has since expanded from seven Gail’s retail bakeries to 73, with the wholesale business providing baked goods to supermarkets.
