I don't think it's an exaggeration to say that this deal wouldn't have happened without Momentum’s help and guidance every step of the way. We have big plans to grow our business over the next five years and we look forward to Momentum being with us as we continue to grow and move forward. As well as increasing the pace of organic growth and building on our position within our core UK market, we are keen to pursue appropriate acquisition opportunities here in the UK and in related product areas.
Chris Ormrod, Managing Director
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Momentum advise on the buyout of leading cake and dessert manufacturer Ministry of Cake from Greencore plc. in a transaction supported by LDC.

Having reported significant revenue growth in recent years, Ministry of Cake has an annual turnover of £25 million and employs more than 250 people.

Headquartered in Taunton in Somerset, Ministry of Cake (“the business”) is a leading manufacturer of own-label cakes and gateaux, primarily for the foodservice market. The business is the UK’s market leader in the production of chocolate fudge cake and has a diverse product range that includes some of the most popular desserts found on pub and restaurant menus across the UK.

Ministry of Cake produces around 2 million slices of cake every week for its growing customer base that includes some of the leading names in the foodservice, catering and wholesale industries, such as Brake Brothers, 3663, Caffé Nero, Pizza Hut, Hard Rock Café, Makro and Booker.

Originally established in Yeovil in 1865 by legendary sweet entrepreneur William Tanner Maynard, Ministry of Cake was acquired by Ireland-headquartered convenience food producer Greencore plc in 2007.

Momentum acted as lead advisor, working with management and the financial institutions. Momentum’s team was led by partners Alastair Boorman and Rob Crews, who have had a long standing relationship with the management team.

The multi-million pound transaction was supported by leading mid-market private equity provider LDC, with a senior debt package provided by HSBC. Alistair Pendleton, Investment Director and Head of LDC’s Bristol office, led the deal for LDC, supported by Pete Latham. Both will join the board as Non-Executive Directors with immediate effect.

Ministry of Cake is facing an enormous market opportunity and we are delighted to have worked with Chris and his team on this buyout. Our model of providing only senior resource is ideally suited for buyouts, which are typically complex transactions. This deal marks the start of an exciting new chapter for Ministry of Cake, with strong financial partners in LDC and HSBC.
Alastair Boorman, partner at Momentum
It was great to work with the team at Momentum who did an outstanding job in helping to deliver this transaction. Alastair and Rob’s personal involvement in all stages of the deal made a real difference.
Alistair Pendleton, Investment Director and Head of LDC’s Bristol office
The management at Ministry of Cake is precisely the type of high quality team that Momentum Corporate Finance enjoys advising – experienced, enthusiastic and entrepreneurial.
Rob Crews, partner at Momentum