Hummingbird Bakery bought in pre-pack administration deal
Source: Benjamin C. M. BackhouseLondon-based The Hummingbird Bakery has been acquired by investment firm Acropolis Capital.Acropolis Capital acquired the bakery and brand, for an undisclosed sum, through a pre-pack administration process, securing the ongoing operation of three of its shops in Notting Hill, South Kensington and Spitalfields which it said protected more than 60 jobs.The bakery also operated sites in Soho, Richmond and Islington, but Acropolis has not confirmed whether these are part of the deal.“We are incredibly excited to be the new owners of this iconic brand and look forward to working with the talented team at Hummingbird. We see huge potential to reinvigorate and grow the business while staying true to its American baking heritage,” said Cameron Chartouni, CEO of Acropolis Capital.The private family office invests in small and mid-sized companies across a range of sectors, but with a focus on leisure and hospitality.Michael Solomons and Andrew Pear of BM Advisory LLP, restructuring, recovery and insolvency specialists, were appointed as joint administrators and were advised by Howard Kennedy LLP and Gordon Brothers. Acropolis Capital was advised by Gateley Legal.“Whilst the ongoing coronavirus pandemic continues to affect businesses across the country and globally, we are delighted to announce the conclusion of a successful sale of the Hummingbird business to Acropolis Capital, ensuring the ongoing operations of this much-loved brand. The sale preserves jobs and ensures continuity of service for the company’s loyal customer base,” added Solomons.The American-style bakery was founded in 2004 by Tarek Malouf, opening its first branch on Portobello Road in Notting Hill. Its ethos is ‘cake tastes best when they’ve been freshly baked using exactly the same ingredients as those used in home baking’. Its range of cakes, which includes cupcakes, layer cakes, brownies, pies and cheesecakes, are baked and decorated in-store.