Bread & Butter is a well-known and well-established Auckland cafe and wholesale bakery. Founded in 2012, the business was born out of the passion of owner Isabel Pasch for the traditional craft of making real sourdough bread and producing in a sustainable and ethical way.
The business is located in Grey Lynn with the beautifully presented café to the front of the building and the busy bakery whirring away behind it.
Nick Giles, head of hospitality for Link Business Broking, is offering the business for sale for the first time, via expressions of interest.
He says, “Bread & Butter is an incredibly important business to the Auckland hospitality scene. It has influenced many a new operator over the last 11 years.”
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The cafe has always been an important meeting-place for friends, family and business people. Bread & Butter is a destination place and heaps of carparking on the doorstep ensures that business is constant and solid.
Weekly sales are an impressive $32,000 on average and there is plenty of room for growth. Around 50-55kg of Espresso Workshop coffee is sold each week.
Giles says, “The bakery/wholesale part of the business enjoys sales of around $45,000 per week including GST. Bread & Butter is best known for its sourdough, but the company produces a wide range of European specialty breads and, of course, plenty of sweet treats from flaky pastries to doughnuts and filled brioche to biscuits.”
The bakery sells to its own cafe and also to a wide range of wholesale customers.
“The combined sales for the bakery and the cafe were an impressive $4 million, including GST, for the year ending 31 March 2023. This is a significant business with significant assets. The depreciated value of assets is still above $500,000,” Giles says.
There is a strong lease in place to 2053 and a strong staff contingent.
“There is a new head baker who brings an absolute wealth of experience at an international level with him.
“Several of the bakery staff have been with the company for many years and the cafe’s head chef has been with Bread & Butter for seven years.”
Bread & Butter is well-established, has an excellent inventory of assets and real talent behind the counter and behind the mixing machines, Giles says.
“This is not to say that, like all hospitality businesses, it hasn’t had its challenges over the last few years.
“Just prior to Covid the owner launched a growth programme that saw some satellite stores set up. Lockdowns put paid to these, and the business has been consolidating and recovering since. Sales are deeply impressive, however and a savvy new owner or investor should be able to steer the business back to peak profitability.”
Giles says, “This is a rare and truly exciting opportunity for someone to take this well-developed brand and the huge amount of intellectual property that comes with it and do something really quite special.
“A couple of competitors have fallen by the wayside over the last few years and there is quite genuine opportunity to take Bread & Butter to exciting new levels.”
Contact: Nick Giles, ph 021 676 832, email [email protected].
— Article supplied by Link
