Food Partners buys rival for £22 million

Food Partners, a pre-packed sandwich manufacturer, has strengthened its business in the food service sector after buying one of its rivals.

The company, which was bought by Duke Street Capital 12 months ago, has added Brambles Foods to its portfolio following a multi-million deal.

Brambles was sold by NBGI Private Equity following a £22 million deal supported through debt provided by Bank of Scotland and Glitnir bank. NBGI backed a buy-out at the company four years ago and has netted a return of 4.3 times its investment generating a return rate of 52 per cent.

The acquirer was assisted by corporate finance firm McQueen, SJ Berwin and PwC Transaction Services, while Eversheds in Nottingham supported NBGI.

Food Partners provides its pre-packed sandwiches to the contract catering, airline, coffee shop and event catering industries. The company has manufacturing plants in Heathrow, Park Royal and Kilmarnock and operates from distribution hubs in Warrington, Melksham and Leicester.

Brambles Foods generates annual sales of some £25 million manufacturing sandwiches, rolls and similar products for the contract catering, education and healthcare sectors. The company has a national distribution fleet serving its operations in Middlesbrough and North London.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.