Ridley Bagels Limited / Garden City Bakery Limited

Ridley Bagels was a family run, high quality, bagel bakery based in the East-end of London. Their aim was to create a new factory and become the most modern and largest commercial bagel producer in Europe.

Kyri Kyriacou provided management and marketing consultancy to Ridley Bagels during the development stages of the project. He was subsequently appointed to the board in July 1995 as Joint Managing Director.

The project had an investment budget of £2.5m. His experience was key, especially in the areas of customer development strategies. He was responsible for negotiating deals with Marks & Spencer, Tesco and other key national accounts and the development of an export market for the product range.

Kyri was instrumental in establishing negotiations with Kellogg’s. This led to the creation of a joint venture between Kellogg's and Ridley’s creating Garden City Bakeries.

In 1997 he was appointed to the Board of Garden City Bakeries Limited (GCB), at the same time he was appointed Business Development Manager for Lenders Bakery Limited, a wholly owned subsidiary of Kellogg’s Company of Great Britain.
His responsibility was for the development and expansion of the Food Service sector. The directorship of GCB was held as the representative of Tashtani Investments Limited, a client of Intanglo.

Kyri was responsible for adding blue chip companies to the client roster that included the UK’s top contract caterers; Compass, Granada, Gardner Merchants and Aramark; and leading frozen food distributors Bookers Foodservice, Country Choice (Brake Brothers) and Cearns & Brown, and top food producers; McVitie’s, Hazelwoods Foods, Telfers, and Walkers.

By December 1999 Kellogg's, through Lenders, (the marketing company of Garden City Bakery Limited) achieved 65% distribution by value and had achieved market leadership with 44% market share by volume in the UK.

However Kellogg's terminated the five-year joint venture agreement at year two and decided to withdraw from bagel manufacture, worldwide.

In July 2000 he was re-appointed to the board of Ridley Bagels Limited to pursue a negotiated settlement regarding various claims against Kellogg's for the early termination of the Joint Venture agreement, mismanagement of the same joint venture and the recovery of retention funds held by Kellogg's (USA).

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