Granard-based Pat the Baker is one of three bidders for Irish Pride, a bread company that was put on the market by One51. It is believed that offers for the company have not exceeded the €10 million mark, well short of its rumoured €15-€20 million price tag.
As well as Pat the Baker, McCambridge’s and a private equity firm from the UK are all bidding for the well-known bread company. Irish Pride employs over 400 people and has bakeries in Ballinrobe, Co Mayo and Taghmon, Co Wexford as well as depots all the country.
Pat the Baker also employs around 400 people and has been in business over 50 years. The company is owned by the Higgins family from Granard. It was founded by their late father Pat.
Incidentally, the company selling Irish Pride, the debt-ridden One51 recently sold the Gowna-based Foamalite to Schweiter Technologies from Switzerland.