Former type Subsidiary Defunct 2008 Ceased operations 2008 | Industry Food (Bakery Group) Founded 1976 | |
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Products Bread, Sandwiches, Drinks and pastries; baked goods Headquarters Newcastle upon Tyne, United Kingdom | ||
Bakers oven at lehman s
Bakers Oven was a British bakery chain. In May 1994, it was acquired by Greggs; in December 2008 the Bakers Oven shops were renamed as Greggs.
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History
Bakers Oven was founded by Allied Bakeries in 1976, and its first location was in Barnard Castle. In 1984, the company acquired the 64 outlets of Carricks of Newcastle and converted them to Bakers Oven. In March 1990, there were 628 outlets and four main bakeries.
In May 1994, it was sold to Greggs for £18.5 million in cash. The transaction included 424 shops and two main bakeries, one in Twickenham and one in Newcastle. The majority of Bakers Oven outlets were located in the South of England, whilst most Greggs outlets were in the North, so the property portfolios were complementary. 20 percent of stores were freehold.
Both chains had sales of around £100 million, but Greggs was significantly more profitable. 169 Bakers Oven outlets had in-store bakeries, and 170 outlets provided seating. After the Greggs takeover Bakers Oven shops coexisted with Greggs, offering higher quality at higher prices and focussing on a higher socio-economic demographic. The 2007 Retail Directory stated that were 216 Bakers Oven outlets.
Rebranding to Greggs
On 9 December 2008 Greggs announced that Bakers Oven South and Midlands divisions would fully merge with Greggs PLC. All 165 Bakers Oven shops became Greggs, forming the division of Greggs East.