BGF invests in Coopland & Son

The UK’s third largest bakery chain, Coopland & Son, has received an investment of £8.5m from the Business Growth Fund (BGF), to accelerate the rollout of its shops across the North of England. Initium acted as corporate finance advisor to Cooplands for the transaction.

From its three bakeries in Scarborough, Durham and Hull, Cooplands delivers traditionally made, high-quality produce including breads, sandwiches, pies, pasties and cakes to more than 140 Cooplands shops, 11 cafes and 28 sandwich vans. Cooplands retail outlets are typically located in busy shopping parades and high streets across Yorkshire, Lincolnshire and the North East.

“As a family business, we didn’t take the decision to bring on board an external investor lightly” – Paul Coopland

Founded in 1885, the fourth-generation business has been led by managing director Paul Coopland since 1985. Cooplands has grown from a chain of five shops to its current size under the leadership of Paul and his team. At the time of the transaction, the business employed more than 1,500 people and generated sales close to £50m.

Cooplands will use BGF’s investment to open 30 new shops, improve and develop its production facilities and explore potential acquisition opportunities to build further scale. The business will also expand its growing sandwich van service, which delivers fresh food to industrial and business parks, doubling its fleet.

Paul Coopland said: “As a family business, we didn’t take the decision to bring on board an external investor lightly. We had a number of options but felt that BGF’s culture and long-term minority investment would provide us with flexibility and control as we continue to grow.”