EG Group said it has sold its Cooplands business to a team of investors based in Yorkshire, where the brand was founded in 1885. Terms of the transaction were not disclosed.
EG Group said the sale represents “another positive step” in its ongoing strategy to focus on its core markets in the US and Europe, while bringing the Cooplands business into the ownership of a “management team that is well-positioned to support it in its next chapter.”
The management buy in has been led by David Salkeld, who will reassume his role as chairman, supported by Paul Coopland, from the original Cooplands family, who will return to the organisation as non-executive director.
John Ruddock, who has been with the business for over 20 years, will continue as CEO. Two new executives, John Kitson (CFO) and Steph McGinty (HR & Transformation Director), complete the team.
“It is with genuine pride that we announce [the] purchase, which brings Cooplands back under the management of a locally based team with strong and established knowledge of our organisation, our colleagues, suppliers and customers,” Ruddock said.
“This gives us the opportunity to focus on strategic growth for the future, whilst preserving the traditional values and excellence for which the brand has been known and respected for over 140 years.”
Cooplands owns and operates two bakeries that manufacture freshly baked products distributed through its supply and logistics network to 154 stores, predominantly across the north-east and Yorkshire regions. Cooplands, which was founded by Frederick and Alice Coopland, started as a pork butcher and pie maker in 1885 and currently employs more than 1,400 colleagues.
EG Group acquired Cooplands in 2021 when it was accelerating its diversification into foodservice in the UK.
The Blackburn-based forecourt retailer sold majority of its UK business to Asda in 2023 for £2.07 billion, and disposed its remaining UK forecourt business to co-founder Zuber Issa, who went on to establish EG On The Move. That business, now separate from EG Group, has since expanded through the acquisition of Applegreen UK’s 98-site network earlier this year.
Another co-founder Mohsin Issa, Zuber’s brother, has stepped down as the group CEO in April.
EG Group, which in August announced the sale of its businesses in Italy and Australia, has also been steadily scaling back internationally as part of its strategy to refocus on core markets and cut debt.