Monty’s Bakehouse, a UK foodservice company in packaged catering for the travel sector, has been acquired by SATS, a group based in Singapore, in a deal valued at circa £27 million. Monty’s Bakehouse is based in Surrey and works in travel markets across the world with offices in the United Arab Emirates and manufacturing sites in Europe, the Middle East, and Asia.
SATS and Monty’s Bakehouse will establish an innovation centre in Singapore as a test bed for food products for aviation catering, buy on board retail, and adjacent complimentary markets.
One focus is to now work together in developing sustainable food packaging using minimal plastics.
CEO, Monty’s Bakehouse, Matt Crane sais of the acquisition: “Joining a multibillion-dollar market leader like SATS presents an exciting opportunity to accelerate the growth of Monty’s Bakehouse as well as support the growth of SATS in Asia.”
Alex Hungate, president and chief executive of SATS, added: “Monty’s Bakehouse is a progressive innovator in aviation catering. With this transaction, SATS will now bring Monty’s product and packaging capabilities to airlines across Asia.”
DMH Stallard advised Monty’s Bakehouse on the deal, and Jonathan Grant, partner and head of corporate at DMH Stallard, led the team advising Matt Crane and the shareholders of Monty’s Bakehouse.
Grant said: “This move presents a platform for further growth and development, and Monty’s Bakehouse will doubtless continue to build on its reputation as an innovator of high-quality packaged foods, and a pioneer in sustainable cabin packaging and recycling.”
The DMH Stallard team comprised senior associate Sarah Quinnell, corporate solicitor Callum Kirk, with Jay Barnett (commercial) and Greg Burgess (employment).
The seller’s advisory team included Grant Thornton (led by John O’Mahony) and Quercus (led by Andy Clegg).
The timing of the deal seems at odds with the wider business climate in the travel sector worldwide currently. Like all acquisitions the strategy will unfold, and we look forward to following more news as it emerges.