By Ian McConnell
Business Editor
A FOURTH-generation retail and wholesale bakery business in Ayr and Prestwick is being sold as a result of current owner David Murray’s impending retirement, with offers of more than £500,000 being sought.
Shepherd Chartered Surveyors has been appointed to sell the business, which was established by the Murray family in 1929.
David Murray said: “Our family business has for four generations served a loyal and expanding customer base and, due to my impending retirement, now is the time to put up for sale what is an excellent profitable business.”
The sale will include the trading name of The Electric Bakery, which Shepherd declared “is a well-known and established brand” throughout Ayrshire.
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The Electric Bakery business employs 31 people, a mixture of full and part-time staff.
It has two shops in Ayr, at Carrick Street and Main Street. The bakery is a modern facility on Main Street in neighbouring Prestwick, where the business has a third retail outlet at Kyle Street.
Shepherd noted the shops currently trade six days each week.
It added that The Electric Bakery’s “income levels are rising” and the business generates “significant” earnings before interest, tax, depreciation and amortisation.
Shepherd noted that the current split of the business was 45% retail and 55% wholesale.
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It added the “wholesale proportion of the overall business [was] increasing year upon year”.
Shepherd partner Kevin Bell said: “The Electric Bakery is a renowned brand familiar to generations of shoppers throughout Ayrshire and beyond, and a thriving business with rising income and substantial annual profits generated.
“With local retail markets picking up as a result of consumers shopping closer to home through the pandemic, we believe the business offers genuine growth potential in both the retail and wholesale sectors.”
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