DARMSTADT, GERMANY — Schenck Process Group (SPG) has reached an agreement to acquire Baker Perkins, a Peterborough, UK-based global supplier of food processing equipment and aftermarket services for the bakery, confectionery, biscuit, cookie and cracker, breakfast cereal and pet food end-markets.
Financial terms of the transaction were not disclosed.
SPG said the acquisition of Baker Perkins furthers its focus to extend its global offering for the food end-markets. Additionally, it is expected to strengthen SPG’s European capabilities in the food processing and equipment sector, broaden its product offering in the Americas and provide opportunities for growth across the Asia Pacific region, the company said.
Once the transaction closes in the fourth quarter of fiscal 2020 Baker Perkins will continue to be run by the existing managing directors as part of the SPG regional business structure, SPG said.
“I am delighted to see Baker Perkins join us,” said Keith Cochrane, chief executive officer of SPG. “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.”
Dan Bassett, managing director for Baker Perkins UK, said the company has been looking for a long-term partner prepared to invest in the company.
“We can relate to the SPG culture that encourages local autonomy and entrepreneurship, which fits well with our independent mindset,” he said. “Already we can see significant opportunities for growth, and I am excited at the prospect of working together.”
Dan Smith, managing director for Baker Perkins US, added, “Schenck Process already has a significant footprint in the US market, and we can see major opportunities in the combination of our expertise and product range.”