Coughlans Bakery; a family-run artisan bakery and café business with 22 retail outlets in affluent boroughs across the South of London, with two currently under development, is on the market.
The business has traditional roots dating back to 1937, and more recently aligned itself to emerging trends through the development of a range of vegan bakery products.
Having recently completed a realignment of the business with current demand, the company is seeking new investors to drive the business forward through the next phase of its life cycle and what it says is an ambitious expansion programme.
Sean Coughlan said: “We are in an unprecedented position compared to most bakers as we started our plant-based journey over two years ago. I saw a niche for vegan artisan products but was told that making tasty vegan food was impossible and was driven to prove those people wrong. Being a part of the family business and with a skill set in developing recipes and coming up with new products now is the right time to seek investment so we can continue to grow whilst also developing the plant-based products which are in such high demand from our growing customer base.
“We have a fantastic team in place who, along with me, love our trade, our family values and engaging with our customers. We’re all very excited about the growth plans and future of Coughlans and look forward to welcoming a new investor to our team.”
Tom Glanvill, at Christie & Co, which brought the business to the market said: “The UK bakery market is one of the largest in the food industry, with annual revenue in the region of £2.1bn. Whilst some high street retailers have been suffering from well-publicised challenges arising from oversupply, rental pressure, and rising business rates in prime locations, Coughlans has been largely immune to these pressures due to being well-situated in carefully selected secondary retail locations. Like-for-like revenue growth for 2019 is in double digit territory, with the phenomenal performance of recent site openings the icing on the cake.
“The driving force behind the current business is Sean Coughlan who wants to remain at the centre of the operation and continue driving its growth, two of Sean’s fellow directors and siblings will be exiting their roles and a new investor will be able to build the desired support team to deliver the growth strategy.
“The demand for Coughlans innovative and on trend plant-based products is clear. As is the opportunity to scale the business. The current food production facility is only operating at 55% of its maximum capacity, and new sites readily available. We expect to see interest from a range of investors from within the sector as well as further afield.”