Bakkavör
Chief Executive Officer ) | |
Products |
|
---|---|
Revenue | £2,203.8 million (2023)[2] |
£94.3 million (2023)[2] | |
£53.9 million (2023)[2] | |
Number of employees | c.18,450 (2024)[3] |
Divisions | Meals, Desserts, Pizza & Bread, Salads |
Website | www |
Bakkavor Group plc (originally Bakkavör) is an international
History
Bakkavör was founded in 1986 by the two brothers Ágúst and Lýður Guðmundsson to manufacture and export cod roe to Scandinavia.[7] In 1993 the company became the first production company in Iceland to obtain a ISO:9002 certification for quality assurance.[8]
By 1997 the company had expanded into Scandinavian and European markets selling cod and lumpfish roe. By October 2000, Bakkavor had an annual turnover of over 4.5 billion ISK.[9]
They expanded the business by selling convenience foods.[7] The company acquired Katsouris Fresh Foods in 1997, Wine & Dine in 2000,[9] and Geest in 2005.[7] In early 2003, the company sold its Icelandic components to Fram Foods ehf. and began focusing on the UK market.[10] By 2005 the company had over 13,000 employees.[11]
Following the
The founding brothers repurchased a major stake in Bakkavör from their investment company,
Between 2013 and 2015 the company simplified its structure, selling its South African operation and a 40% stake in its Italian business later in the year, along with other operations in Continental Europe.[16] The company acquired US prepared foods' manufacturer B. Robert's Foods in January 2015.[17]
In January 2016, Bakk AL Holdings Limited, a company owned by Ágúst and Lýður Guðmundsson and funds managed by
In April 2017, many supermarkets had to recall the company's hummus because of poor quality control.[19]
In November 2017 the company floated on the London Stock Exchange, in their initial public offering.[20]
Bakkvor acquired Blueberry Foods of Leicester, UK in 2019, a dessert manufacturer.[21] In 2022, Ágúst Guðmundsson stepped down as CEO and appointed Mike Edwards as its successor.[22]
Operations
The company produces a range of meals, salads, desserts, dips, sauces, sandwiches and pizza and bread products.[23] Bakkavor produces over 3,200 product categories to over 900 supplies in the UK, USA and China.[4]
Bakkavor operates 23 factories in the UK, 9 in the USA and 5 in China.[4]
References
- ^ "Board of Directors". Bakkavor.com. Retrieved 11 June 2018.
- ^ a b c "Annual Results 2023" (PDF). Bakkavör. Retrieved 5 March 2024.
- ^ "About us". Bakkavör. Retrieved 12 February 2024.
- ^ a b c Bakkavor (2021). "Bakkavor Annual Report 2021" (PDF).
- ^ "Bakkavör: our story". London Stock Exchange. Retrieved 20 June 2020.
- ^ "RPS Group (UK): Constituent Deletion - Update: Changes in FTSE UK Index Series". 18 January 2023. Retrieved 20 January 2023.
- ^ ISBN 978-1137394545.
- ^ "Gæðamál Bakkavör hlýtur viðurkenningu". www.mbl.is (in Icelandic). Retrieved 13 March 2023.
- ^ a b "Morgunblaðið - Morgunblaðið C - Viðskiptablað Morgunblaðsins (12.10.2000) - Tímarit.is". timarit.is. Retrieved 14 March 2023.
- ^ "Morgunblaðið - 292. tölublað (28.10.2003) - Tímarit.is". timarit.is. Retrieved 14 March 2023.
- ^ "Frjáls verslun - 5. tölublað (01.05.2005) - Tímarit.is". timarit.is. Retrieved 14 March 2023.
- ^ a b Bowers, Simon (8 March 2010). "Icelandic tycoons could regain control of empire built on debt". The Guardian. Retrieved 11 September 2015.
- ^ Mason, Rowena. "Deloitte under scrutiny over sale of Bakkavor stake". Retrieved 11 September 2015.
- ^ "Shareholders' meeting of Bakkavör Group hf on 26 March 2010". Global Newswire. 22 March 2010. Retrieved 2 March 2018.
- ^ Bowers, Simon (25 September 2012). "Icelandic sandwich tycoon Lydur Gudmundsson faces fraud charges". The Guardian. Retrieved 11 September 2015.
- ^ "UK: Bakkavor sells stake in Italian asset". Just Food. 8 May 2014. Retrieved 2 March 2018.
- ^ "Bakkavor Group buys B. Robert's Foods of Charlotte". Biz Journals. 12 January 2015. Retrieved 2 March 2018.
- ^ Hipwell, Deirdre. "Fresh owners for Bakkavör". The Times.
- ^ "Chickpeas suspected source of hummus taste issues". Food Quality. 27 April 2017. Retrieved 2 March 2018.
- ^ "Bakkavor revives IPO one week after shelving it due to 'market volatility". The Telegraph. 10 November 2017. Retrieved 2 March 2018.
- ^ "Bakkavor agrees to acquire Blueberry Foods in UK". www.foodprocessing-technology.com. Retrieved 14 March 2023.
- ^ "Bakkavor Group CEO and co-founder to retire". Food Management Today. 3 October 2022. Retrieved 14 March 2023.
- ^ "London Stock Exchange welcomes Bakkavör Group plc to the main market". London Stock Exchange. Retrieved 2 March 2018.