Bakkavor has announced a board change after hedge fund Baupost sold its stake in the food manufacturing group to private equity firm LongRange Capital.
By Anthony O. Goriainoff Bakkavor Group said Monday that BP-PE5 LLC, an affiliate of the Baupost, has sold its 20.1% shareholding in the company to LongRange.
City snapshot: Bakkavor major shareholder Baupost sells stake to US PE firm thegrocer.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thegrocer.co.uk Daily Mail and Mail on Sunday newspapers.
Third Quarter Highlights and Recent Developments  Revenue of $30.5 million up 84% y/y, down 5.6% q/qContinue to improve cost structure, as evidenced by gross margin on sub-scale revenue.