Azeda Unlimited Company – which owns the Pat the Baker brand – is to be acquired by London private equity firm Mayfair Equity Partners, The Business Post reported this week.
The Competition and Consumer Protection Commission (CCPC) was notified last week of the proposed acquisition.
According to the Business Post, Mayfair already controls a number of companies in Ireland, including Donegal-based Promise Gluten Free.
Pat the Baker – which was founded in Longford by Mayo native Pat Higgins in 1953 – has remained in the control of the Higgins family since the death of Pat Higgins in 2007, and subsequently acquired Irish Pride in 2015.
Both brands have remained top choices for Irish shoppers, claiming spots in the top 50 of Checkout’s Top 100 Brands 2024.
In the bakery category, Irish Pride was Ireland’s number two bread for the year, while Pat the Baker claimed the number-five spot.
James, Melanie and Mark Higgins are directors of Azeda, according to CRO filings, along with Declan Fitzgerald, the managing director of the firm.
The first phase of the third-party consultation on the proposed acquisition of Azeda by Mayfair will conclude on 8 January.
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