The UK-based boutique bakery-café group posted 27.5% year-on-year sales growth for the year ended 29 February 2024 and forecasts turnover will reach £300m ($381m) next year
.jpg.aspx?lang=en-GB&width=700&height=460)
Gail’s was voted Europe’s Best Bakery/Food Chain at the 2024 European Coffee & Hospitality Awards | Photo credit: The Blowup
Boutique bakery-café group Gail’s is seeking to open 35 new outlets across the UK and reach £300m ($381m) in sales during its current financial year.
Gail’s, which is reportedly exploring a £500m ($525m) sale, opened 21 net new sites during the 12 months ended 29 February 2024 and now operates 150 UK sites.
The London-headquartered business achieved 27.5% year-on-year group revenue growth during the period to reach £231.7m ($294.3m). Retail sales increased 32% to £179m ($227.3m) with wholesale revenues rising 19% to £83.7m ($106.3m).
Gail’s, voted Europe’s Best Bakery/Food Chain at the 2024 European Coffee & Hospitality Awards, also narrowed its pre-tax loss during the period from £12.8m ($16.3m) to £7.4m ($9.4m), according to newly-filed Companies House accounts.
“Over the year, trading was strong – with the group opening 21 new retail bakeries and continuing to see healthy growth in our established locations. In addition, wholesale continued to grow its large food service business – from its bakeries in London, Manchester and Bath; and due to the continued success of the brands produced and sold through several large UK supermarket businesses,” Gail’s said.
In November 2024, Sky News reported that Gail’s parent company Bread Holdings had appointed New York-based investment bank Goldman Sachs to auction a sale of the boutique bakery-café group. Any sale would likely lead to the partial or full exit of Bread Holding’s existing backers, Bain Capital Credit and EBITDA Investment, according the report.