The company supplies the UK foodservice sector with frozen, almond-based cakes often topped with popular confectionery brands such as Cadbury, Toblerone and Philadelphia. It operates out of a dedicated gluten-free bakery in Gothenburg, Sweden.
The acquisition allows Givesco Bakery to strengthen its position in the Nordic countries, while expanding into the European markets where Almondy has a presence. It also gives Givesco access to Almondy’s state-of-the-art bakery. Meanwhile, Almondy expects to benefit from increased investment to allow it to take advantage of market opportunities faster.
Andrew Ely, managing director at Almondy, said: “Givesco Bakery shares our strong foodservice focus and our passion for baking, so we are delighted to be part of its business.
“Givesco Bakery has historically made long-term investments and has successfully developed its many business entities. Its clear strategy is to develop Almondy further and so with its expertise we look forward to being able to expand the Almondy brand into new markets while also extending our product offering.”
Kenneth Eskildsen, chief executive at Givesco Bakery said: “The acquisition of Almondy is strategically important to us. The corporation complements our other businesses in a good way, thanks to its strong position in the Nordic countries and with its unique concept, which is just right for the time. In addition to this, Almondy has many valuable partners who we will continue to develop businesses with.
“With this acquisition we are adding an entrepreneurial, driven company, with a totally unique concept and a first-class bakery plant, to our portfolio.”