Baker & Baker, which employs 650 people at its site on Stadium Road in Bromborough, has announced that its Group revenue grew slightly to €623.5m during the period. It also reported robust gross profit growth of 7.5% to €90.1m, and adjusted EBITDA increased to €32.7m.
A spokesperson for the firm described its financial performance as ‘solid’.
The group recorded a ‘slight decline’ in product volumes of 3.7% during the year, due to ‘rising raw material costs and other inflationary effects’.
However, this was offset by gross profit growth driven by ‘a positive shift in product mix and effective measures to improve efficiency in the group’s operations’.
It was described as ‘another solid financial performance’ by the Group in 2024, with ‘continued profit growth’.
Baker & Baker’s site on Stadium Road in Bromborough (Image: Mark Waugh / Baker & Baker)
Baker & Baker’s European operations continued to strengthen with approximately €14 million invested during the year in productivity, growth and sustenance projects across its 12 manufacturing sites.
This included a range of capital initiatives that were either delivered or initiated throughout 2024.
These include a significant investment at the business’ Delmenhorst site in Germany to improve the management and filtration of palm oil across the site’s doughnut lines.
A spokesperson for the company said the project ‘will deliver cost savings in addition to its positive sustainability impact, due to avoided carbon emissions via the use of lower palm oil volumes’.
The group has also invested in its Bradford site to install a new chocolate system, allowing the site to diversity its product offering. It was a move said to have paved the way for the launch of three new products into continental Europe – a Milka chocolate cluster, Milka cookies and a Milka chocolate topped brownie.
This product range has already seen ‘strong initial growth’ in France during the first half of 2025.
Finally, Baker & Baker’s German business finalised a move to a new office in the vibrant Überseestadt district of Bremen. The office also features a test bakery.
The company’s chief executive Matthew Acheson said: “Baker & Baker remains a clear leader in the American Sweet Bakery category in Europe and our customers trust our expertise and market insight to drive sales across the retail and food service channels.
“We are pleased to have delivered another year of solid financial performance across the Group, despite facing a series of geopolitical headwinds and fluctuating consumer confidence.
Matthew Acheson, chief executive of Baker & Baker (Image: Mark Waugh / Baker & Baker) “2024 saw continued inflation throughout the bakery industry, most notably in the price of cocoa, which has affected many bakery categories.
“We have worked closely with our customers to manage these turbulent inflationary effects.
A series of strategic investments in our manufacturing capabilities have also delivered efficiencies and allowed us to expand our product capabilities for customers.”
Baker & Baker employs around 1300 people in the UK across four sites.