National law firm Ashfords LLP has advised the owners of Rowe's Cornish Bakers on the sale of the company to Iberia Industry Capital (IIC), based in Luxembourg.
Rowe's Cornish Bakers is a leading pasty maker, producing some 170,000 pasties a week for 22 branches across Cornwall, and employing 350 staff. IIC plans to make significant investment into the Rowe's Cornish Bakers business in order to drive growth and enhance profitability .
Stuart Mathews, Corporate Partner at Ashfords, led the team advising on the sale. The team included Dominic Ring (Associate); Emma Clayton (Solicitor); Jeremy Asher (Senior Associate); Andrew MacMillan-Scott (Partner); Angus Bauer (Partner); and Jack Baumgardt (Solicitor).
Stuart Mathews commented: "The sale of Rowe's Cornish Bakers to IIC marks an historic milestone for this long-standing family business. We were delighted to play a part in this transaction which will see Rowe's Cornish Bakers continue to grow and thrive for years to come."
IIC gave the following statement: “Rowe’s high quality standards, award winning, premium products and solid management impressed IIC. Rowe’s will now embark on a new period of development and expansion. The entire senior management team will remain in place and will work hand in hand with IIC to take the business forward. It is an exciting new phase for Rowe’s, which will continue to enhance the company’s premium brand and products in the UK and internationally".