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26 September 2023

Bakery deal safeguards historic bakery’s future and saves 50 jobs

Allen Jackson Bakery Limited, part of Lifft Group Limited, has acquired Chesterfield’s Jacksons the Bakers in a deal which has secured the historic bakery’s presence in the town and safeguarded dozens of local jobs.

With its history dating back as far as the late 19th century, Jacksons supplies a wide range of wholesale clients including schools, supermarkets, and English Football League Clubs, operating out of its head office, bakery and factory shop in Clay Cross.

The business also has a retail shop in Chesterfield town centre and is well known across the region for its quality baked goods, as well as its support of the local community including supplying Ashgate Hospice with fresh bread and cakes for patients and staff free of charge.

The acquisition, which completed earlier this month for an undisclosed sum with a turnaround time of just two weeks, follows news that the company had gone into administration amidst challenging trading conditions following the COVID 19 pandemic and the war in Ukraine, including rising energy costs.

Andrew Fielder from Chesterfield law firm Banner Jones, and Andrew McDaid from Mitchells Chartered Accountants & Business Advisers, advised Allen Jackson Bakery Limited on the purchase of the company’s trade and assets.

Looking to the future the company’s new owners say they hope to build on its heritage and success over the years in order to establish new contracts with local independent pubs, restaurants, and cafes.

Commenting on the deal Allen Jackson Bakery Limited founder and Lifft Group Limited Director, Giles Allen, said it formed part of the group’s strategic growth ambitions to expand its portfolio of businesses which operate commercial fleets and companies specialising in transport training.

He added that the move was also aligned to the group’s ethical, social and governance values (ESG), and its commitment to invest in companies that can help to create sustainable job opportunities in the local area.

“Jacksons the Bakers is a wonderful bakery which employs great people. It has an impressive heritage dating back more than 100 years, and a long-standing reputation for supporting the local community,” Giles commented.

“Like many businesses it has faced some challenges in recent years, brought about by the pandemic and increasing operating costs, but it also has an expansive, loyal customer base and there is considerable opportunity for further growth and expansion.

“We are delighted to be bringing Jacksons into the group, and to have secured the company’s continued presence in Chesterfield. We hope everyone in the community will now get behind the business and help us to grow by buying local.”

Andrew McDaid, Partner at Mitchells Chartered Accountants & Business Advisers who acted as a representative for Giles in his negotiations with the administrators, added: “It great to work alongside ambitious entrepreneurs such as Giles who share our passion for Chesterfield and want to improve the economic prosperity of the area.

“At a time when there has been so much in the press about businesses shutting down, resulting in thousands of redundancies, we are pleased to have been able to work together quickly to ensure that jobs were safeguarded, and the business moves forward.”

Andrew Fielder from Banner Jones Solicitors added: “Banner Jones is delighted to have acted for Allen Jackson Bakery Limited in its acquisition of Jacksons the Bakers. The purchase has secured the future of a well-respected local business and protected the jobs of the businesses’ employees.

“We wish the new owners every success moving forwards".

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