Global Bakeries has completed the acquisition of US-based frozen cakes producer Bubbles Baking for an undisclosed price.
With 300 SKUs of frozen cakes and delicacies, Bubbles has been serving large grocery stores and commercial retailers across the country for the last 55 years.
With the completion of the deal, Bubbles will be a fully owned subsidiary of Global Bakeries.
Global Bakeries CEO Chris Botticella said: “For over 55 years, Bubbles has set the standard in homemade pastries, and we at Global Bakeries not only want to continue that tradition but enhance and build on their standard of excellence with our increased efficiencies and new product lines.
“We are excited to add Bubbles into our family and look to the future with further great excitement.”
Established in 1985, Global Bakeries specialises in the production of bagels, flatbreads, croissants, pita bread and pita chips.
Last December, US-based Surge Private Equity closed an investment in Global Bakeries with the Firmament Group, which provides tailored debt and equity capital solutions to small and medium-sized enterprises (SMEs).
Surge Private Equity partner Tom Beauchamp said: “The acquisition of Bubbles allows Global Bakeries to expand into the dessert baking arena.
“From better ingredient pricing to offering customers more product lines, we see a lot of opportunity in the fragmented niche boutique baking space to add value by consolidation of these strong brands and products. We aim to do several add on acquisitions this year.”
