Cakesmiths Joins Forces with Onore Food Group
Cakesmiths, the renowned artisan handmade cake manufacturer based in Bristol, is set to embark on a new chapter in its journey as it bids farewell to its two-year partnership with private equity firm LDC.
This development follows a remarkable period of growth that saw the company’s revenue soar by an astounding 164% and EBITDA surge by an impressive 260%. Cakesmiths also expanded its workforce, more than doubling its staff from 110 to over 200 employees during its collaboration with LDC.
The transition will see Cakesmiths maintain its identity and brand, with its current CEO continuing to lead the business alongside the existing management team.
Cakesmiths’ remarkable growth during its partnership with LDC was driven by several key factors. The company strategically invested in state-of-the-art production facilities and expanded its product range to cater to evolving consumer tastes.
What’s more, their commitment to sustainability also played a significant role, with Cakesmiths implementing eco-friendly packaging and sourcing locally whenever possible.
Reflecting on the journey, the CEO of Cakesmiths expressed immense satisfaction with the accomplishments of the past two years. They noted that joining the Onore Food Group will propel their long-term growth ambitions and enable them to share their delectable cakes with a global audience.
Furthermore, the CEO emphasised that the demand for their cakes shows no sign of slowing down, and this partnership positions them perfectly to bring their creations to more people worldwide as part of Onore.
In response to this exciting development, the chairman of Onore Food Group outlined the company’s ambitions to become the preferred manufacturer for food specialties in pastry and snacking on a global scale.
Moreover, they have warmly welcomed Cakesmiths to their family and hinted at the imminent addition of new leaders in the pastry and snacking industry, all aimed at delighting their customers and enthusiasts of their products.
LDC, a subsidiary of the Lloyds Banking Group, has been a significant contributor to Cakesmiths’ growth story. An investment director at LDC praised Cakesmiths’ rapid expansion, attributing it to the team’s unwavering passion for their cakes and their dedication to innovation and service excellence.
Together, they identified the online platform as a vital channel for growth, with nearly 70% of Cakesmiths’ volumes now being ordered online and delivered the next day.
The investment director also expressed pride in partnering once again with Chris Ormrod of Cakesmiths and supporting a team located just down the road from their Bristol office. They are enthusiastic about Cakesmiths representing the city on an international scale and wished them every success in their future endeavours.
In conclusion, Cakesmiths’ journey from a local artisan bakery to a global player in the cake industry is a testament to the power of dedication, innovation, and collaboration. Their partnership with LDC has been a stepping stone to even greater achievements, and as they join forces with Onore Food Group, the world can expect to savour more of their delightful creations.
Additionally, this exciting transition marks the beginning of a new chapter in Cakesmiths’ story, and the future holds boundless possibilities for this Bristol-based gem. As Cakesmiths continues to innovate and grow, its legacy as a provider of exceptional handmade cakes is sure to endure for generations to come, pleasing palates and sweetening moments across the globe.
News Credits: Cakesmiths to become part of rebranded Onore Food Group
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