A company specialising in organic food home delivery has been bought by a team led by one of its founders.

A company specialising in organic food home delivery has been bought by a team led by one of its founders.

Keith Abel is once again the owner of Abel & Cole, which supplies organic meat, fish, dairy products and groceries, after he joined its existing management to buy the company.

The acquirers completed the deal after securing the backing of Phoenix Equity Partners, which was led by partner David Burns, who is responsible for the firm’s investments in the consumer sector.

The package, which is the firm’s sixth investment from its £375 million fund raised in April last year, also provided additional finance to support Abel’s growth plans.

Abel said Phoenix is the perfect funder for the company. “Phoenix is used to working with entrepreneurs. It will let us carry on doing what we’re best at, and support us with the rest of it.”

Abel & Cole’s managing director, Duncan Gibson, added that this is an exciting time for the company. “In Phoenix we have found a partner who shares our energy and belief in the future of delicious, organic and fairly-traded food.”

Phoenix was advised on the terms of the investment by its existing legal adviser Travers Smith, while the vendor was supported by OC&C Strategy Consultants.

OC&C’s team was led by partner Alex Birch and Nicholas Farhi, an associate partner in the firm’s consumer practice.

Birch said his team’s work highlighted the strength and uniqueness of Abel & Cole’s business as well as assisting management to set their strategic goals for the company. “This business has great potential and we look forward to working on its future successes.”

He added that OC&C was not solely chosen for its commercial due diligence experience. “Of all the advisers considered, management believed the firm would be able to adapt best to Abel & Cole’s entrepreneurial and ethical culture.”