Monty’s Bakehouse is officially a wholly-owned subsidiary of SATS Investments, a key provider of food solutions and gateway services in Asia. According to a report by AviationPros, the U.K.-based mega-food brand was acquired by the latter for $48.4 million, effective February 29, 2020.
“Joining a multi-billion-dollar market leader like SATS presents an exciting opportunity to accelerate the growth of Monty’s Bakehouse as well as support the growth of SATS in Asia,” said Matt Crane, Chief Executive Officer of Monty’s Bakehouse.
Following the acquisition, the two companies will combine their culinary, product, and packaging innovation expertise to enhance their food solutions and support growth in the food and snack sector.
This pooling of the two’s know-how will also come to fruition in the form of a new innovation center based in Singapore. The innovation center will test food products and sustainable packaging solutions for aviation catering, buy-on-board retail, and adjacent markets, the news source noted.
“Monty’s Bakehouse is a progressive innovator in aviation catering. With this transaction, SATS will now bring Monty’s product and packaging capabilities to airlines across Asia,” said Alex Hungate, President and Chief Executive Officer of SATS.
Will SATS and Monty’s Bakehouse’s merger result in a snack and bakery expansion beyond the aviation market and into conventional grocery markets? Deli Market News will continue to report on the latest movements in our industry.