Gail’s Investment Overview

Gail’s (the Bread Holdings Limited) is a leading player in the UK premium bakery and specialty coffee segment, with a strong retail presence, fast growing wholesale foodservice business and established grocery business.

Thesis snapshot

Entry into fast-growing premium bakery segment through a UK’s leading artisanal bakery concept led by experienced and passionate management team. Vertically integrated, flexible and covid-resilient business model that drives quality, consistency, innovation highly attractive margins. Confirmed significant roll-out opportunity in UK, and potential international expansion in the future.

Thesis points

  • Leading artisanal bakery concept and unique product proposition in a high-growth and attractive segment
  • Well-diversified presence: retail, wholesale and grocery
  • Vertically integrated business model (incl. central bakery facilities)
  • Highly compelling financial profile and Covid-resilient business model
  • Substantial white space for national and international expansion
  • Digital & delivery opportunity
  • Attractive valuation and expected investment returns
  • Highly reputable investment partner (Bain Capital Credit)

MCWIN FEF Value add

Support Gail’s in the strategic decision-making process.

Enhance operational efficiency through extensive industry know-how and best practice and systems sharing.

Strengthen company’s culture and people’s capabilities.

Enhance marketing and brand-building strategy.

Support in building digital and delivery platform.

Accelerate domestic growth and unlock international expansion opportunity for the brand.

To make a big impact and challenge the existing food system you need like-minded partners who share your ambition. After several years of looking for the right partner for our growing premium bakery, I think we found it with McWin. We agree on some basic principles - making good food and vertical integration is worth the effort, getting bigger and better is possible with the right mindset and building businesses that improve the future is important to society, lots of fun and absolutely necessary.

Tom Molnar, CEO