THE new owner of the businesses sold by Bolton bakers Warburtons is promising investment to develop ambitious plans for the future.

Warburtons Ltd and HSBC Private Equity have completed the sale of the Warburton's retailing and pie making interests to Lyndale Foods Ltd. It is a new firm which becomes one of the biggest in Bolton.

Lyndale has been formed by HSBC Private Equity and chief executive John Jesky, who plans to make Lyndale into a major force.

The sale affects 3,300 employees at 218 retail and five manufacturing sites in Bolton, Manchester, Blackpool and Liverpool. Lyndale's acquisition includes four craft bakeries and the £7.2 million Peter Hunt savoury food plant which opened on the Lyon Industrial Estate at Kearsley two years ago. There are total sales of more than £70 million.

The amount being paid by Lyndale Foods is not being disclosed, but Warburtons are taking a 20pc equity stake. Warburtons chairman Ross Warburton joins the Lyndale board as a non-executive director.

He has announced previously that the sale will be followed by a multi-million pound expansion of the company's traditional Bolton bakery business. Lyndale, which is based in the Peter Hunt premises, becomes a major player on the local commercial scene.

Mr Jesky said: "We are buying a successful business which we believe can do even better.

"We plan to invest in the business and develop it along the lines already established by Warburtons and I greatly look forward to the challenge of realising the full potential from this excellent opportunity."

The companies involved in the sale are Sayers Confectioners, Hampsons, Burtons, Spinks and Peter Hunt.

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