“The acquisition allows us to grow our share within our existing customer base by giving us more products to offer and also assist us in expanding our presence in markets where BAKETECH has a well-established brand,” said Tim Cook VP sales and marketing AMF Bakery Systems.
“Globally, we believe the acquisition will increase our market share in Asia, Latin America and the Middle East,” he added. BAKETECH’s international sales currently comprise between 30-50 per cent of its business.
Cook would not be drawn on an evaluation of BAKETECH’s market share but said; “as we did our due diligence, it was obvious to us that most of the new soft roll lines supplied in the last couple of years used BAKETECH continuous proofers and ovens.”
“In addition to similar values, our organisations are very customer centric and that will continue post acquisition,” confirmed Cook.
The addition of BAKETECH’s continuous proof and baking systems to AMF’s product range will enable the company to offer the full production line for pan bread and soft rolls. “This allows us to better serve our customers around the world with single source design, integration and support,” commented Cook.
All products traditionally made by BAKETECH will retain the brand name and continue to be offered within the AMF portfolio.
BAKETECH will benefit from AMF’s established international customer support network. The company will “fit nicely into our global footprint and we will expand our offices and our personnel globally as the demands of the business require,” stated Cook.
AMF will continue to invest in BAKETECH with the aim of improving total line efficiency within a fully integrated system and supporting “our constant pursuit for innovation,” explained Cook.
BAKETECH is the third acquisition by Markel Ventures in 2011.
“AMF and our parent company Markel Corporation are always looking for well-run, value-centred companies to add to the family,” said Cook.