At a glance

At a Glance

We are the UK’s leading provider of fresh prepared foods and we are unique in supplying the widest variety of fresh prepared foods on an international scale.

  • Annual turnover: £1.67 billion (2015)
  • Adjusted EBITDA: £130 million (2015)
  • Employ over 18,000 people
  • 30 facilities in UK, 13 sites in three other countries
  • Manufacture 5,000 different products across 18 categories
  • Hold market leading positions—no.1 in 12 out of 16 categories in the UK (as at Dec 2015)
  • Over 45 years’ experience in developing own-label brands
  • Works with the global grocery retailers

Our Vision, Strategy and Values

Our vision is:

“To be recognised and respected as the world’s leading fresh prepared foods provider”

Our strategy is to drive profitable growth through:

  • Building on our leading positions in high-potential, fast-growing fresh prepared foods markets
  • Leveraging our strong customer relationships to drive mutual and profitable growth
  • Setting the industry benchmark for safety, quality, service and innovation through the talent and commitment of our people
  • Delivering sustainable long-term growth through capital investment and a continued focus on efficiency

Our 5 values are:

Customer care, Can do attitude, Teamwork, Innovation, Getting it right/Keeping it right

Our Business Segments

2015 revenue split by segment: UK:91%; International:9%. 2015 number of employees by region: UK:89%;International:11%


Sales for 2015: £1.52billion
Our core segment is the UK. Our UK businesses primarily supply own-label fresh prepared foods products to all the major grocery retailers in the UK across fresh categories such as ready meals, pizzas, desserts, fresh cut salads, dressed and meal salads, dips, soups, sauces, fresh cut fruit and vegetables.


Sales for 2015: £155 million
Our International segment represents sales to retail and foodservice customers in Belgium, Spain, USA and China (including Hong Kong).

Key developments in 2015

  • Continued revenue growth, with a strong recovery in our International businesses
  • Adjusted EBITDA margin improvement underpinned by productivity investments
  • Leverage ratio now less than three times through excellent cash conversion
  • Greater focus on growth markets through acquisition and investment
  • Strengthening of ownership structure supports Group’s long term strategic objectives
  • Part-redemption of Senior Secured Notes leads to more cost effective financing

Our Awards

Awards Highlights in 2015

  • 3 Quality Food Awards
  • The Grocer Own-Label Supplier of the Year
  • 3 Grocer Own-Label Awards
  • Food Manufacturer of Year (Food Management Today)
  • Waitrose Product Innovation Award
  • M&S ‘Plan A’ Supplier Group of the Year
  • 5 RoSPA© Awards

Our History

1986 to 1996

Founded by Agust & Lydur Gudmundsson to manufacture and export fish products

1997 to 2000

Expansion of Scandinavian operations


Acquired Wine & Dine and Katsouris Fresh Foods in the UK

2003 to 2004

Sold seafood operations to focus on fresh prepared foods

Established Bakkavor Asia to leverage expertise

2005 to 2008

Acquired Geest Plc, a leading producer of fresh prepared foods

Acquired a number of businesses in UK, Europe, Asia and US to support strategic development

2009 to 2011

Delisted from Icelandic Stock Exchange

Exited low-margin produce businesses

2012 to 2013

Redomiciled to UK

Sold French, Spanish and Czech businesses

Expanded Chinese operation

2014 to 2015

Sold South African and Italian businesses

Acquired B.Robert’s Foods, an own-label fresh prepared foods manufacturer based in Charlotte, NC, USA


Completed major shareholder change. The Gudmundsson brothers & Baupost Group own 89% of the outstanding shares, with the Gudmundssons holding the controlling interest