Burges Salmon has advised the management of Ministry of Cake on its recent buyout.
The management team of Ministry of Cake has agreed terms with listed food producer Greencore Group plc to acquire the business. The team is supported by private equity provider LDC, which is part of the Lloyds Banking Group.
Ministry of Cake has been a part of Greencore since 2008, and has seen its revenues rise to £25 million over that period.
Ministry of Cake is the UK’s leading manufacturer of desserts for the food service market. It employs more than 250 people in Taunton, Somerset and each week produces in excess of 2 million slices of cake.
Chris Ormrod, Chief Executive of Ministry of Cake, said: 'I have been delighted with the help and advice from Burges Salmon. At every step along a fairly tortuous way they gave us strong advice and support - and kept us bang on track with timings. The team there are a class act and I wouldn't hesitate to use them again.'
Richard Spink, the head of Burges Salmon’s Corporate Finance team, said: “We are delighted to have worked with the management of Ministry of Cake on the buyout supported by LDC. We were involved with the business on Mobeus Equity Partners’ original investment in 2005 and were particularly pleased to be able to work with Chris Ormrod and his team on the next stage of growth of the business.”