UK-based convenience food company Symington's has acquired family-owned baking business Victoria Foods for an undisclosed amount.
This acquisition will strengthen Symington's position in the home baking category and also complement its existing portfolio of brands such as James Martin, Aunt Bessie's, Ragu, Chicken Tonight, Campbell's and Ainsley Harriott.
Symington's CEO David Salkeld said the deal is a positive step forward in strengthening the company's position in the home baking category.
"Our two companies have a proven track record of success in this growing category and working together we are very well placed to continue to surprise and delight our consumers who enjoy baking at home," Salkeld added.
As a part of the agreement, Victoria Foods managing director Dan Ross will join the Symington's business.
Victoria Foods, based in Lancashire, UK, manufactures cake and baking mixes, including products for desserts and drinks. Its product range includes own-label brands - which account for two-thirds of the business - as well as children's character-themed brands and mixes.
Over the past five years, the UK home baking market has witnessed strong sales growth. The market is estimated to be worth £576m.