Bakers Delight turns down takeover bid

Despite receiving a big cash offer for Bakers Delight, the Gillespie family decided to turn down the dough, keeping the business in the family and planning for growth in Australia and Canada.

Two months ago Australia’s biggest independent bakery chain, the Gillespie family’s Bakers Delight, received an offer to buy the business. 

The family council gathered. Was it time to sell? The business had been operating for 34 years and Roger Gillespie, who started it with wife Lesley, was 64. Bakers Delight has 587 stores in Australia, 30 in New Zealand and 76 in Canada and turns over more than $600 million. The business would fetch hundreds of millions of dollars: maybe the Gillespie’s two children, Aaron and Elise, both in their early 30s, would like to take the cash do something else with their lives.

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