The £67 million takeover of a Derbyshire firm which is believed to be the oldest manufacturer of Christmas puddings in the world has been completed.
Earlier this month, Valeo Foods Group entered into an agreement with 2 Sisters to buy Bakery Foods , which trades as Matthew Walker.
Based at Heanor, Matthew Walker was founded in 1899 and employs around 200 people at its factory, who make puddings for a range of retailers.
The business, which was put up for sale earlier this year, makes puddings, seasonal sponges, cakes and free-from dessert products for the retail and foodservice channels in the UK and for export.
Ranjit Singh, president of Boparan Holdings, said: “We are pleased this transaction proceeded smoothly and completed as we expected.
“It is another significant deal, with good enterprise value, underlining our commitment to transforming our business.
“It strengthens our balance sheet even further and shows we are following through with our promises by focusing on our key strengths.
“I wish all colleagues at Matthew Walker every future success with a good new owner.”
Ronald Kers, chief executive at Boparan, said: “This sale is further good news as we continue at pace with our turnaround plan.
“We remain very much on track to meet our strategic aims of focusing on our core businesses and improving our operational performance.”
