Stewart Systems Inc., Plano, Texas, acquired UK-based Spooner Vicars Ltd., which serves complementary bakery markets in the biscuit and snack, bread and cereal sectors.
Corporate headquarters for the combined company will operate in Plano, while the Spooner Vicars UK office will focus on biscuit and snack technology. Stewart Systems was founded in 1947 and Spooner Vicars in 1849, giving the combined company an extensive history in the baking market.
“We are very excited about the synergistic potential in this acquisition. It creates a unique base for future growth and strong financial stability,” said Nand Kumar, chief executive officer, Stewart Systems. “This combination will provide an excellent platform for both companies to be the leaders in all served segments of the baking industry and yields an environment for greater innovation and customer satisfaction,” he added.
With facilities in the United States, the United Kingdom, India and China, the combined company will have access to strategically placed engineering, manufacturing and after-sales on a global basis, with more than 50 agents and sales offices worldwide. The company also plans to expand its product portfolio in the bread and bun, and biscuit and snack segments, as well as in its robotics and tortilla divisions, which were developed by Stewart Systems in the past year.
“Everyone associated with this deal is very excited about this development,” said Wayne Poteet, owner of Spooner Vicars, who will now act as a managing director. “The combining of both companies will be much stronger than the sum of the individual parts, and we are looking forward to the future with great confidence,” he added.