Germany’s Schenck Process Group confirms acquisition of Baker Perkins equipment firm
The German-based Schenck Process Group (SPG) has confirmed plans to acquire British headquartered equipment and systems business Baker Perkins, as the company continues its global expansion, reports Neill Barston
As the Darmstadt business explained of its move, the investment in the specialist machinery company, which produces a number of lines for the confectionery, biscuit, cookie and cracker markets, will enable it to enhance its overall European, US and Asia Pacific operations.
With its base in Peterborough, UK, Baker Perkins serves a diverse base of customers across the food industry globally, having this year launched a new line for gummy confectionery at ProSweets 2020 in Cologne (pictured).
According to the management of SPG, the company intends to build upon the knowledge, experience and customer relationships of the Baker Perkins teams in order to support future growth. It pledged to remain committed to existing facilities of its newly-acquired business in Peterborough and Grand Rapids, Michigan, US.
The transaction is expected to close in Q4 2020, and on completion, the business will continue to be run by the existing managing directors as part of the SPG regional business structure. At the time of going to press, the financial value of the deal had not been released.
Keith Cochrane, CEO of SPG, said: “I am delighted to see Baker Perkins join us. This is a long-established business with a reputation for excellent products and customer service, with a similar business model to our own. It will complement and extend our existing product offering to the food end-market, which is a key strategic focus, providing good opportunities for future growth, operating efficiency and further value creation for all stakeholders.
Mr Dan Bassett, MD Baker Perkins UK, welcomed the move, which he believe would secure its existing operations, which have traditionally had a strong focus within the confectionery market.
He said: “We have been looking for a long-term partner prepared to invest in the company and continue its development for many years to come. We can relate to the SPG culture that encourages local autonomy and entrepreneurship, which fits well with our independent mind-set. Already we can see significant opportunities for growth, and I am excited at the prospect of working together.
Furthermore, Dan Smith, MD Baker Perkins US, added that Schenck Process already has a significant footprint in the US market, and that he felt there were ‘major opportunities’ in the combination of our expertise and product range.