BakeTech signs letter of intent to merge with AMF
July 14, 2011 By Bakers Journal
July 14, 2011, Tucker, GA – The founders of BakeTech have signed a letter of intent to merge into AMF Bakery Systems of Richmond, Va.
BakeTech is one of the wholesale baking industry’s leading suppliers of continuous proofers, ovens and coolers.
“As [co-founder] Bob Miller and I approach our retirement, we were concerned about the future of our company and how to best position it to continue leading the industry in both technology and service,” said Geri Walker, president and co-founder of BakeTech. “The two of us along with [co-founder] Stephen Smith, who will continue working for many years, were particularly concerned about our customers as well as the people who work at BakeTech. When we looked at our industry, we concluded that AMF was the place to ensure the legacy we have worked over 20 years to create.”
Walker pointed to AMF’s commitment to customers and strong financial position as key factors in the decision to merge the two companies.
BakeTech will continue to operate as part of AMF Bakery Systems in the Tucker, Ga., facility.
“We are excited for the great people of BakeTech to join the AMF team,” said Ken Newsome, president of AMF. “BakeTech has become the clear leader in both technology and service for continuous systems in the past few years and we will do all we can to support the team in Tucker.”
Terms of the transaction are confidential. Closing is planned in the next 90 days.
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