The parent company of Donegal’s Promise Gluten Free and Gallaghers Bakehouse brands is moving forward with a takeover of Pat the Baker and Irish Pride.
The proposed merger would see Mayfair Equity Partners LLP, through Ceres Midco 2 Limited, take sole control of Azeda Unlimited Company – the ultimate parent company of the Pat the Baker and Irish Pride brands.
Mayfair is a private equity firm, headquartered in London which controls a number of portfolio companies in the State, including Promise Gluten Free.
Co-founder of Gallaghers Bakery, Declan Gallagher, retained a combined 40pc stake in the business in Ardara when it was sold in 2017.
It’s reported that the proposed merger would involve a manufacturing boost for the popular Gallaghers Bakehouse range as demand grows.
The merger was notified to the Competition and Consumer Protection Commission (CPCC) last week and is currently at the preliminary investigation stage.
Gallaghers Bakery, based in Ardara has been in business for more than 50 years and employs almost 300 people.
Gallaghers Bakehouse was relaunched in 2020 with handcrafted sourdough starter as a base for the majority of the range. The range continues to grow from a regional product to a recognised national brand.
