Danish company buys Louth firm with €13 million investment
Drogheda based East Coast Bakehouse has been acquired by Bisca
Louth based business East Coast Bakehouse has been acquired by Danish bakery manufacturer Bisca with an investment of €13 million.
The deal will see East Coast Bakehouse become a stand alone subsidiary of Bisca’s larger international company, and exit the examinership it entered into in January of this year.
All business and manufacturing at East Coast Bakehouse will continue at the site based in Drogheda, and the company says it hopes to create new jobs as part of the joint growth plans.
“We are very pleased that the agreement has now been finalized, and we look forward to embarking on a new and exciting chapter for both Bisca and East Coast Bakehouse, continuing our joint efforts to deliver quality products within the cake, cookie and biscuit category,” said Kristian Walsøe, CEO at Bisca.
Bisca is Denmark’s leading cake and biscuit manufacturer, with a broad product portfolio and significant customer base across Northern Europe and owned by Danish private equity fund Erhvervsinvest.
“East Coast Bakehouse’s products are an excellent fit with our portfolio and complement what we already offer. They have a strong presence in Ireland and the UK, while we have a solid position in the Nordics and Northern Europe, creating a strong combined geographic footprint,” says Kristian Walsøe, continuing: “At the same time, they operate a modern and well-established production setup that we can build upon.”
David Carey, CCO at East Coast Bakehouse welcomed the news saying: “We are delighted to team up with Bisca, who were from the early stages identified as an ideal new strategic partner to help maintain and accelerate the exciting growth momentum behind East Coast Bakehouse. The deal will bring new opportunities and new volume to our business and our retail and supply partners.”
East Coast Bakehouse was founded in 2016 and manufactures under its own brand (The Bakehouse, The Home of Irish Biscuits), as well as own label and contract manufacturing business servicing major retailers across the UK & Ireland, as well as exporting to over 15 markets internationally.