UK shortbread maker Dean’s of Huntly acquires Duncan’s of Deeside

UK – Dean’s of Huntly, a UK-based bakery business has acquired fellow Scottish shortbread company Duncan’s of Deeside for an undisclosed fee.

In a statement on LinkedIn, Dean’s said it had bought Duncan’s to increase its market share in premium shortbread and to benefit from the combined business’ expertise and synergies.

The combined business is projected to generate US$20.8M in revenue for this year, operating from the Dean’s production facility in Huntly Aberdeenshire, after a transition period of six months.

“We are very excited to work with the Dean’s of Huntly team to deliver the next exciting phase of growth for the combined businesses,” Paul Duncan, the co-owner and managing director of Duncan’s said.

Bill Dean, the managing director of Dean’s, said the acquisition of the well-established, high-quality business builds on the company’s recent organic growth.

“By coming together, we are creating a stronger, more innovative business that is better equipped for the future – and one that adds even more value for our valued employees and customers. We are excited to build on the successful journey begun by the Duncan family and their team.’’ Bill Dean commented.

Dean’s, established in 1975 is based in Huntly in Aberdeenshire in north-east Scotland. The company manufactures shortbread, biscuits and savoury cheese bites. It also makes gluten-free and plant-based shortbread. According to its website, it currently employs 130 people.

According to accounts lodged with Companies House, the UK’s business register, Dean’s generated a turnover of US$8.6M in the 12 months to the end of June 2023, compared to US$10.7M a year earlier.

During the year, it made an operating loss of US$370,802, versus an operating profit of US$200,043 the year previous. The group reported a loss for the year of US$357,622, against a profit of US$94,853 in the corresponding 12 months.

Duncan’s makes shortbread and oatcakes. It was originally headquartered in Laurencekirk. The company’s products are available in the UK and abroad, including in Australia.

All Duncan’s employees will be offered a place at the Dean’s facility, located 54 miles away, and the Duncan’s facility will be put up for sale once it ceases to operate. Paul Duncan will stay with the combined business to help deliver the next phase of growth.

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