 | |
| Company type | Public |
|---|---|
| LSE: BAKK FTSE 250 | |
| Industry | Food manufacturing |
| Founded | 1986; 39 years ago (1986) |
| Headquarters | , England, UK |
Number of locations | 46 |
Area served |
|
Key people |
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| Products | |
| Revenue |  £2,292.7 million (2024)[2] |
| £113.6 million (2024)[2] | |
| £55.7 million (2024)[2] | |
Number of employees | c.17,450 (2025)[3] |
| Divisions | Meals, Desserts, Pizza & Bread, Salads |
| Website | www |
Bakkavor Group plc (originallyBakkavör) is an internationalfood manufacturingcompany specialising infresh prepared foods. The group's head office is inLondon, England. Bakkavor operates 46 factory sites in the UK, US and China.[4] It is listed on theLondon Stock Exchange[5] and is a constituent of theFTSE 250 Index.[6]
Bakkavör was founded in 1986 by the two brothers Ágúst and Lýður Guðmundsson to manufacture and exportcodroe toScandinavia.[7] In 1993 the company became the first production company in Iceland to obtain aISO:9002 certification forquality assurance.[8]
By 1997 the company had expanded into Scandinavian and European markets selling cod and lumpfish roe. By October 2000, Bakkavor had an annual turnover of over 4.5 billion ISK.[9]
They expanded the business by sellingconvenience foods.[7] The company acquired Katsouris Fresh Foods in 1997, Wine & Dine in 2000,[9] and Geest in 2005.[7] In early 2003, the company sold its Icelandic components to Fram Foods ehf. and began focusing on the UK market.[10] By 2005 the company had over 13,000 employees.[11]
Following theglobal financial crisis of 2008, Bakkavör became heavily indebted,[12] forcing the Guðmundsson brothers into emergency talks with the company's bondholders.[12]
The founding brothers repurchased a major stake in Bakkavör from their investment company,Exista, in 2009.[13] The company delisted from theNASDAQ OMX inIceland in 2010 and became aprivate limited company.[14] Lýður and Ágúst Guðmundsson faced fraud charges in Iceland in 2012 relating to their ownership ofExista.[15]
Between 2013 and 2015 the company simplified its structure, selling its South African operation and a 40% stake in its Italian business later in the year, along with other operations in Continental Europe.[16] The company acquired US prepared foods' manufacturer B. Robert's Foods in January 2015.[17]
In January 2016, Bakk AL Holdings Limited, a company owned by Ágúst and Lýður Guðmundsson and funds managed byThe Baupost Group, LLC, purchased shares in the company, taking its ownership to approximately 89% of the outstanding shares.[18]
In April 2017, many supermarkets had to recall the company'shummus because of poor quality control.[19]
In November 2017 the company floated on theLondon Stock Exchange, in theirinitial public offering.[20]
Bakkvor acquired Blueberry Foods of Leicester, UK in 2019, a dessert manufacturer.[21] In 2022, Ágúst Guðmundsson stepped down as CEO and appointed Mike Edwards as its successor.[22]
On 27 September 2024, more than 400 staff at the Bakkavor factory in Spalding went on a strike in a dispute over pay. Bakkavor said it had offered 7.8% pay rises to its lowest paid workers and 6.4% to other staff. It said about 35% of the workforce was on strike, with the remaining 800 continuing to work at the site as normal.[23] In November 2024, the Financial Times reported that the strike action was causing shortages of taramasalata in UK supermarkets.[24]
The company produces a range of meals, salads, desserts, dips, sauces, sandwiches and pizza and bread products.[25] Bakkavor produces over 3,200 product categories to over 900 supplies in the UK, United States and China.[4]
Bakkavor operates 23 factories in the UK, 9 in the United States and 5 in China.[4]
