SOLD TO:

Undisclosed

INDUSTRY:

Food

Established in 2002, Cumbria-based Calder Foods is a specialist chilled food manufacturer with a diverse product range that includes sandwich fillings, cooked meats, salads, chutneys and sauces. This high-growth business enjoyed a 70% increase in turnover in the five years prior to its sale.

The owners of Calder Foods, Nigel Harrison and Paul Baker, were looking for another party to join the business in order to grow the company without relinquishing their leadership positions or financial interests. Aware of Avondale’s exceptional track record in the food sector, the owners instructed the firm to identify an acquirer that could provide the necessary injection of capital.

Avondale was able to provide a wide network of contacts in the food industry, as well as extensive expertise in strategically positioning similar businesses for sale. Avondale’s team brought several prospective buyers to the table, of which five submitted indicative offers. After a period of negotiation, the offer from Flagship Food Group, a US-owned multi-national food service specialist, was accepted.

As per their original wishes, founding members Mr Harrison and Mr Baker were able to remain in their positions as Managing Directors of Calder Foods, while becoming shareholders in Flagship Food Group. The partnership provides a golden opportunity to develop the Calder Foods portfolio, taking advantage of Flagship’s wider customer base in the food service sector to promote sales.

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