Bakkavör facts for kids
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| Public | |
| Traded as | LSE: BAKK FTSE 250 |
| Industry | Food manufacturing |
| Founded | 1986 |
| Headquarters |
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England, UK
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Number of locations
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46 |
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Area served
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Key people
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| Products | |
| Revenue |  £2,203.8 million (2023) |
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Operating income
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£94.3 million (2023) |
| £53.9 million (2023) |
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Number of employees
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c.18,450 (2024) |
| Divisions | Meals, Desserts, Pizza & Bread, Salads |
Bakkavör Group plc is a big international company that makes fresh prepared foods. It started out as just "Bakkavör". The main office for the group is in London, England.
Bakkavör has 46 factories in different countries. These include the UK, the US, and China. The company's shares are traded on the London Stock Exchange. It is also part of the FTSE 250 Index, which lists 250 large companies.
Contents
How Bakkavör Started and Grew
Bakkavör was created in 1986. Two brothers, Ágúst and Lýður Guðmundsson, started it. Their first goal was to make and sell cod roe (fish eggs) to countries in Scandinavia.
In 1993, the company achieved an important milestone. It became the first production company in Iceland to get an ISO:9002 certification. This certificate shows that they had good quality assurance for their products.
Expanding into New Markets
By 1997, Bakkavör had grown quite a bit. They were selling cod and lumpfish roe in more European countries. By October 2000, the company was making a lot of money each year.
The company then decided to expand its business. They started selling convenience foods. These are foods that are quick and easy to prepare. Bakkavör bought other food companies to help with this. They bought Katsouris Fresh Foods in 1997. Then they acquired Wine & Dine in 2000. In 2005, they bought Geest.
In early 2003, Bakkavör sold its businesses in Iceland. They decided to focus mainly on the UK market. By 2005, the company had more than 13,000 employees.
Changes and Growth in Recent Years
After some challenges, the founding brothers bought back a large part of Bakkavör in 2009. The company stopped being listed on the stock exchange in Iceland in 2010. It then became a private company.
Between 2013 and 2015, Bakkavör made its business simpler. They sold some of their operations in other countries. This included their business in South Africa. They also sold part of their Italian business. In January 2015, they bought a US food maker called B. Robert's Foods.
In January 2016, the founding brothers and some investment funds bought more shares. This meant they owned about 89% of the company.
In November 2017, Bakkavör became a public company again. They offered their shares on the London Stock Exchange for the first time. This is called an initial public offering.
In 2019, Bakkavör bought Blueberry Foods. This company makes desserts in Leicester, UK. In 2022, Ágúst Guðmundsson stepped down as CEO. Mike Edwards took over as the new Chief Executive Officer.
What Bakkavör Makes and Where They Operate
Bakkavör creates many different kinds of food. These include ready meals, salads, and desserts. They also make dips, sauces, sandwiches, and pizza products.
The company produces over 3,200 different types of products. They supply these foods to more than 900 customers. These customers are in the UK, USA, and China.
Bakkavör has many factories around the world. They operate 23 factories in the UK. They also have 9 factories in the USA. In China, they run 5 factories.
