date:Mar 01, 2013
UK-based bakery products manufacturer Finsbury Food has sold its free-from bakery business to Scottish firm Genius Foods for 21m, as part of its efforts to focus on core cake and bread businesses.
The sale includes two subsidiaries Livwell and United Bakeries (UBH), the holding company of United Central Bakeries (UCB), which account for 14% of the company's annual revenues.
Under the terms of the deal, Finsbury Food will receive 17.7m in cash from Genius Foods on completion, with a further 3m