Company continues growth and enters next phase of development
Glendale Foods Limited, the Salford based food manufacturing business, has undergone a partial shareholder buyout for an undisclosed sum, leaving full control to management as the company enters the next stage of development.
Paul Burkitt, managing director, and Mark Jones, operations director, have assumed full control of Glendale, after the purchase of the remaining shares in the company from founding shareholders John Mortimer, chairman, Gill Mortimer and Pam Mortimer, all of whom exit the business after more than 30 years of managed growth.
Glendale was founded in 1982 and has grown steadily since inception. Under the stewardship of John, Paul and Mark the Company has enjoyed strong growth in recent years, underpinned by new contract wins and investment in the production facilities and equipment. Last year turnover was a record £20m and today Glendale employs around 200 staff.
Glendale specialises in processing meats, cooked components, vegetables and flour based products for sale into retailers, wholesalers, food manufacturers, airlines and restaurant groups both in the UK and abroad.
Paul Burkitt, said this is an “exciting period for Glendale”.
“This transaction represents the next phase in our development. Glendale’s success is based on a platform of product innovation, customer relationships and service, working closely with our client base to produce new and exciting products. We look forward to building on the existing customer base to further drive growth and capabilities,” he continued.
Management received corporate finance advice from Martyn Rickels, of FRP Advisory, who led the transaction, and legal advice from Ian Gillis and David Mkhitarian from Hill Dickinson.