Margaret Hall secures investment from Panicium

Margaret Hall Ltd – which manufactures a diverse range of tarts, cakes and biscuits under its own brand ‘Margaret’s Country Kitchen’ and as white label – has joined Panicium Ltd as part of its buy-and-build strategy to scale-up and acquire like-minded craft bakeries.

Margaret Hall started life in 1963 as a corner shop in Warwick run by Ted and Margaret Hall. By the 1990s, helped by Peter Walsh, the business had expanded to a chain of 15 retail shops. Peter’s son and current shareholder, Jonathan Walsh, joined the business in 1991 and refocused the business away from direct retail to focus on manufacturing.

At the time of the transaction, the Warwick-based bakery was selling more than six million ambient and frozen tarts, biscuits and cakes every year to foodservice distributors and catering wholesalers.

Panicium selected Margaret Hall as its first portfolio company in an ambitious buy-and-build strategy within the highly fragmented UK craft bakery sector.

Margaret Hall shareholders, Jonathan and Charlotte Walsh, remained in the business post sale and hold shares in Panicium. They are also part of the Panicium senior management team.

Legal advice was given to Margaret Hall by Leamington Spa law firm, Blythe Liggins. The price and terms were undisclosed.

Acorn Capital Partners advised Panicium with legal support from Gateley Plc.

Panicium is a buy-and-build vehicle run by Graham Norfolk and Peter Fields both of whom have extensive expertise in building businesses in a number of sectors. The Panicium Group’s core strategic aim is to acquire companies within the UK’s craft and artisan food sector, building a portfolio of brands known for their handmade, high-quality products and strong regional identities.