ABF boosts stake in UK ready-meals producer Cook
This expanded stake coincides with ABF’s ongoing activity in the UK bakery sector, including its recent acquisition of the Hovis bread brand under its Allied Bakeries division, which also owns brands like Kingsmill and Sunblest.
UK – Associated British Foods (ABF) has increased its investment stake in Cook Trading Ltd, a premium UK-based frozen ready-meals producer, further strengthening its presence in the growing UK convenience food sector.
This increase builds on ABF’s initial minority investment made in 2020 and marks a significant step in fortifying its footprint in the frozen ready-meal market.
New filings with Companies House reveal that ABF now owns over 25% but less than 50% of Cook’s equity, maintaining its position as a minority investor while leaving control with the founding Perry family.
Established in 1997 and operating from Sittingbourne, Kent, Cook Trading specializes in a broad range of frozen meals and desserts crafted across three kitchens.
The brand primarily sells through online delivery and over 100 branded retail stores, targeting customers seeking high-quality, premium convenience meals that include British classics, as well as international cuisines like Indian, Thai, and Mediterranean.
Notably, Cook offers vegan, vegetarian, and free-from options to cater to evolving consumer demands.
For the fiscal year ending March 31, 2024, Cook Trading reported a turnover of £119.7 million (US$159.5M), marking 13.2% year-on-year growth.
However, operating profit declined by 15.5% to £3.8 million (US$5.1M) and net profit fell 47% to £1.9 million (US$2.5M).
Despite the dips in profitability, ABF’s increased investment signals its confidence in Cook’s long-term growth potential and strategic alignment with its broader goals in the UK food market.
This expanded stake coincides with ABF’s ongoing activity in the UK bakery sector, including its recent acquisition of the Hovis bread brand under its Allied Bakeries division, which also owns brands like Kingsmill and Sunblest.
The strengthening relationship between ABF and Cook demonstrates a strategic approach to building a diverse portfolio of food brands focused on quality and sustainability.
Sarah Arrowsmith, CEO of Allied Milling & Baking and a board director at Cook, expressed enthusiasm about deepening the partnership, praising Cook as “a very impressive business” and highlighting ABF’s ongoing support for Cook’s mission and values.
Cook Trading’s sustained focus on premium quality frozen meals, commitment to innovation, and growing retail presence position it well to capitalize on increasing consumer preference for convenient yet nutritious meal solutions.
ABF’s enhanced investment underscores its commitment to strengthening its position in the rapidly evolving UK convenience food space by backing brands with strong heritage and growth potential.
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