Close Growth Capital has backed the £12 million secondary buy-out of Blueberry Group, a UK-based supplier and distributor of ambient food to the independent retail market. The deal sees 3i exit the company three years after its original investment.

Close Growth Capital has backed the £12 million secondary buy-out of Blueberry Group, a UK-based supplier and distributor of ambient food to the independent retail market. The deal sees 3i exit the company three years after its original investment.

Glendinning Management Consultants conducted commercial due diligence on behalf of the equity provider. Jane Wiltshire, insight consultant, led the team.

“We combined our experience of channels and categories with company and customer interviews, desk research and point-of-purchase observations to provide an objective view of the business,” she advises.

“Blueberry operates in a competitive market. The business is in a strong position with its range of products meeting consumer trends. Understanding point-of-purchase drivers will continue to be important in the future.”