Bain Capital Credit is buying a stake in a London craft bakery that’s pushing for growth as the capital and other U.K. cities emerge from the pandemic.
The firm will invest in Bread Holdings, the parent company of Gail’s Bakery and The Bread Factory, a wholesale supplier of artisan breads, pastries and desserts, according to an emailed statement.
Bain will team up with Ebitda Investments — an investment fund focused on the foodservice and foodtech sectors — to take over the stake of Risk Capital Partners.
The deal values the company at more than 200 million pounds ($277 million). Neither the amount invested nor the size of the stake was disclosed.
The business has sales of more than 130 million pounds annually, according to the statement. The firm runs 73 Gail’s bakeries and serves premium grocers as well as restaurants and caterers.
Its outlets are mostly found in London, with several of them in the city center. The chain also has some stores in other locations such as Oxford or Brighton, in the South-East of England, according to its website.
“Over the last 18 months of a Covid-influenced world, the teams have worked hard to survive and believe they can emerge stronger,” the statement said.