Quercus Corporate Finance LLP is delighted to announce the sale of aviation food solutions company, Monty’s Bakehouse UK Limited to SATS Investments Pte Ltd, Asia’s leading provider of Food Solutions and Gateway Services.
The Quercus team, led by Andy Clegg, advised the Board of Monty’s Bakehouse UK Limited (“Monty’s Bakehouse”) on the sale of the company to SATS Investments Pte Ltd (“SATS”) for a purchase consideration of up to £26.7 million.
Monty’s Bakehouse is a leading innovator of high-quality packaged food solutions for travel markets across the world with offices in the United Arab Emirates and manufacturing sites across Europe, the Middle East, and Asia. The company was founded by CEO, Matt Crane, in 2003 and is headquartered in Surrey.
By combining the culinary expertise of SATS with Monty’s Bakehouse product and packaging innovation, the group intends to enhance its food solutions for aviation customers and support growth into new customer segments. Customers across Asia will benefit from the sustainably-packaged, handheld snacks that Monty’s Bakehouse has been providing to a growing roster of premium airlines and other customer segments across the world.
Andrew Clegg, Quercus Partner commented:
“The combination of Monty’s Bakehouse and SATS is a very exciting development for the aviation food industry and I am delighted for Matt and the other shareholders who have built a great business. In a post-Brexit world, this demonstrates clearly that Britain remains open for business, forging new links in non-EU markets.”
Matt Crane, CEO of Monty’s Bakehouse added:
“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. I am really pleased that we chose Quercus to help us to structure this complex cross-border deal; their creative thinking, responsiveness and attention to detail were of great value to us throughout the process.”