BAKETECH founders, Geri Walker, Stephen Smith and Robert Miller, are pleased to announce that they have signed a Letter of Intent to merge into AMF Bakery Systems of Richmond, Virginia. BAKETECH is the wholesale baking industry’s leading supplier of continuous proofers, ovens, and coolers. According to Geri Walker, president of BAKETECH, “As 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. The two of us along with 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 best place to ensure the legacy we have worked over 20 years to create. They have a similar commitment to our customers and our people as well as a financial situation that gives the industry great confidence that they will be around for many, many years. It was the only place we felt would enhance BAKETECH and continue to support our people and our customers like we would.”
BAKETECH will continue to operate as part of AMF Bakery Systems in the Tucker, Georgia facility. “We are excited for the great people of BAKETECH to join the AMF Team,” stated 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 to do all we can to support the team in Tucker.”
Terms of the transaction are confidential. Closing is planned in the next 90 days.
Source: AMF
