Singapore aviation catering company SATS said it has acquired UK-based aviation food company Monty’s Bakehouse for S$48.4 million (US$34.7 million). The acquisition means Monty’s becomes a wholly owned subsidiary of SATS Investments.
The acquisition combines SATS and its food business with the product and packaging expertise of Monty’s and SATS said in announcing the acquisition that customers across Asia “will benefit from the sustainably-packaged, handheld snacks that Monty’s Bakehouse has been providing to a growing roster of premium airlines and other customer segments across the world”.
SATS and Monty’s Bakehouse said they will establish an “innovation centre” in Singapore to test food products for the aviation sector and they two will also work to develop sustainable food packaging that reduce cost, waste, and “logistical complexities using minimal plastics, to fulfil its 2030 goal of adopting sustainable food packaging”.
SATS said Monty’s Bakehouse is “pioneering sustainable cabin packaging and recycling as a member of the Airline Sustainability Forum and representative on the Advisory Committee for the Global Tourism Plastics Initiative led by the UN Environment Programme & UNWTO in collaboration with the Ellen MacArthur Foundation”.
Matt Crane, CEO of Monty’s Bakehouse commented, said “joining a multibillion-dollar market leader like SATS presents an exciting opportunity to accelerate the growth of Monty’s Bakehouse as well as support the growth of SATS in Asia.”
SATS has more than 60 locations in 13 countries across Asia-Pacific and the Middle East. Monty’s Bakehouse was founded by Crane in 2003.