Tenth deal is icing on the cake for buyout firm Endless

The Leeds private equity firm’s acquisition of Bright Blue Foods Ltd for an undisclosed sum is its 10th investment of 2015.

Based at its two bakeries in Blackburn, Bright Blue also operates from Bradford and Poland and employs more than 700 permanent staff.

With sales expected to exceed £70m this year, the firm manufactures a wide range of bakery products including celebration cakes, swiss rolls and cake bars.

In addition to providing high quality private label cakes for top supermarkets like Tesco, M&S, Asda, Aldi and Morrisons, Bright Blue has developed a strong and growing branded business with Aunt Bessie and Mars. Bright Blue is also one of the largest manufacturers of mince pies and Christmas cakes in the UK.

Di Walker, who works with Endless at Karro Food Group, joins the new board as non-executive director.

Steve Crossley, who joined Bright Blue in October 2014, will continue to lead the business as chief executive officer.

NBGI will continue to back Bright Blue as a co-investor alongside Endless, having led the original management buyout from McCambridge Group nearly three years ago.

The deal comes nine months after Endless announced it had raised a new fund of £525m to invest in buyouts, non-core acquisitions from larger groups and refinancings.

The fund is supported by a range of global investors, including some of the best known universities and the family offices of some of the most successful entrepreneurs in the world.

Endless has invested more than £150m in UK businesses in the year to date, including recent investments in the management buyouts of High Street TV, Essential Fleet Services and Imtech UK.

“We have a strong, well invested business with real competitive advantages and we are delighted that Endless is keen to back our growth plan,” said Mr Crossley.

“Our recent bakery rationalisation in the UK and expansion in Poland gives us an opportunity to provide our customers with a compelling proposition and we have high aspirations for the future. We intend to take full advantage of the support provided by our new investors.”

Mathew Deering, a partner at Endless, commented: “We are delighted to have the chance to back Bright Blue.”